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The Metro Louisville area has experienced a steady growth rate in the housing market over the past 30 years. As noted in the chart below, the 30 year average is 5.84%. We had a 4.33% increase in the average house price in 2005. The only year where we had a negative growth rate was in 1982. Inflation was at an al time high this year. To adjust for inflation, interest rates rose to 16%+ thus bringing inflation under control again. You can see the mortgage rate history as well in the chart below.
Click to enlarge!
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