LBAR announces $555 million in year-to-date real estate sales for Bluegrass
Jul 20th, 09
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Bluegrass economy in 2009 as of June 30 with 3,404 reported sales totaling $555,041,118.
The Central Kentucky real estate market continues to outpace several important national trends which illustrates that all real estate markets are local. The Housing Affordability Index for June 2009 was 161. The latest published national Housing Affordability Index (HAI) was 171 for May 2009—the Bluegrass outpaced this index in May 2009 with an HAI of 172. An HAI of 172 means that the median family income is 172% of the necessary income to qualify for a median priced home using a 20% down, 30-year fixed rate mortgage.
LBAR President Gale Fulton says “While 2009 is different economic climate than 2008, we are seeing increases in pending sales, stable median sales prices and decreasing days on market. This again shows that the Central Kentucky real estate market is not experiencing the crisis made so public by the national media.”
As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® (LBAR) understands the value and joy of owning a home. LBAR represents more than 2,100 REALTORS® located in Anderson, Bourbon, Boyle, Clark, Fayette, Franklin, Garrard, Harrison, Jessamine, Madison, Mercer, Montgomery, Scott and Woodford Counties. Visit www.lbar.com or call 859-276-3503 for buying and selling resources and real estate listings. For additional information please contact Elaine Hangis, LBAR executive vice president (859-276-3503 or via e-mail, Elaine@lbar.com).
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