Homearama 2014 helping get new home sales back on track - wave3.com-Louisville News, Weather & Sports

Homearama 2014 helping get new home sales back on track

Chuck Kavanaugh (Source: WAVE 3 News) Chuck Kavanaugh (Source: WAVE 3 News)
Richard Miles (Source: WAVE 3 News) Richard Miles (Source: WAVE 3 News)
LOUISVILLE, KY (WAVE) - If you're house hunting in greater Louisville, you may have noticed the good ones don't last long. That's certainly true with existing homes and now new home sales are getting back on track too.

Builders at Homearama 2014 in Shakes Run say the market is definitely on its way back. The past winter was still sluggish for new and existing homes. However, once spring came so did the buyers and now they say new home sales have really picked up.

[SLIDESHOW: A look inside the 2014 Homearama houses]

The latest Homearama offering may be one of the most exciting years yet, not just for buyers impressed by coffered ceilings and open concept living, but for the builders thanks to the upswing in new home sales.

From 2005 to 2007 new housing starts in Louisville were off the charts, then they took a huge hit with the rest of the country.

[SLIDESHOW: Shakes Run 2014 Homearama houses]

"We were down about 70 to 80 percent of peak which was in 2005," said Chuck Kavanaugh, the Executive Vice President of the Building Industry Association of Greater Louisville.

Kavanaugh says close to 6,000 new homes were built on the Kentucky side of greater Louisville during the high, that number plummeted in 2011 to only 1,150 built.

Many builders moved to remodeling and other work to make ends meet, now month by month the market and enthusiasm is coming back.

"May and June have been a lot bigger months from the standpoint of new homes, but also from the standpoint of existing homes and pending sales," he said.

"It's exciting for us," said Dogwood Homes Owner Richard Miles. 

"We didn't have to work as hard to sell houses last year, so the buyers came to us," Miles said, "we didn't have to be as aggressive on sales prices and advertising and promotions, we've seen a lot more stable market."

He says right now buyers are looking for craftsman styles with stone and Hardie Board and being energy efficient doesn't hurt.

His #2 Homerama house is already sold. It's 4,800 square feet with six bedrooms, five baths and plenty of living space upstairs.

The basement features a workout room, big windows and they didn't forget the kids. Miles even added a pottery barn kids decorated house right under the staircase. For mom and dad? A bar area made to look like an Irish Pub. Kavanaugh says the city of Louisville is performing better in the housing market than cities such as St. Louis, Memphis and Little Rock.

As for Homerama? There's a preview party Friday night. It opens to the public Saturday morning July 12 from 10 am to 9:30 pm. It runs through July 27.

Hours are Saturdays 10 a.m. to 9:30 p.m., Sundays 1 p.m. to 6 p.m. and weekdays 5 p.m. to 9:30 p.m.

Tickets can be purchased by cash or check at the Homearama site and cost $10. Children 12 and under are free.

Copyright 2014 WAVE 3 News. All rights reserved.


Powered by Frankly