As we have been seeing for many months, the Central Kentucky area continues to outpace the nation with regard to key real estate market indicators. This week the National Association of REALTORS® (NAR) announced housing affordability and median sale price data for the U.S. Existing home sale median sale prices in Central Kentucky were unchanged for May 2008 vs May 2007, while the nation saw a 6.3% drop for this figure. Additionally, the Central Kentucky Housing Affordability Index (HAI) for May was 164, while the national figure was 125.4. An HAI of 164 means the median family income is 164% of the necessary income to qualify for the median priced home using 20% down, 30-year fixed rate mortgage.

    Our full statistical report for the second quarter of 2008 will be posted online this month. Keep an eye on our blog or news room for this information.