Skip to main content

Kentucky Home Sales Dip While Prices Rise

Nov 01, 2018
Home sales in Kentucky were down in September while home prices recorded an impressive annualized growth, according to new data from Kentucky Realtors

Home sales in Kentucky were down in September while home prices recorded an impressive annualized growth, according to new data from Kentucky Realtors.
 
September’s home sales in the Bluegrass State totaled 4,453 units, down 3.4 percent from the 4,608 level recorded one year earlier. For the year-to-date, Kentucky’s 40,291 home sales were roughly 1 percent below the 40,816 sales from the same period in 2017.
 
September also marked the second consecutive month with an increase in home prices, with the $136,920 median price representing a nearly 5.5 percent spike form the $126,850 median price in September 2017. Kentucky’s housing inventory totaled 4.42 months in September, up less than half a percent versus September 2017; in August, the inventory level was 3.56 months.
 
“The Kentucky housing market continues to buck the national trend,” said Steve Cline, President of Kentucky Realtors. “Closings are down slightly while national numbers are up. However, Kentucky saw increases in July and August while others did not. While it remains difficult to predict the short-term future, the stabilizing national trend is encouragement that 2018 will be a near-record year in Kentucky.”

 
About the author
Published
Nov 01, 2018
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024