While housing construction levels in Kentucky are not ideal, according to a real estate association leader, houses sold are still near record levels.
Kentucky REALTORS CEO Steve Stevens says the 2018 housing market in the Commonwealth rivaled last year’s record-breaking mark. “We’ve really seen some strong sales, despite the fact that we still struggle with the inventory levels that everybody across the country has, but we’re going to probably post, at least, the second highest number of sales, total volume that we’ve ever had in the state’s history,” said Stevens.
Stevens says final figures for December have not been compiled yet. The realtor association executive says the median home price in 2017 in Kentucky was just over $128,000. Stevens says that figure increased to $132,000 in 2018. He says that can present a challenge to first time buyers. “What we fear is, without a larger inventory, eventually those folks who are trying to get into the market for the first time, first time home buyers, young adults, all these folks that are getting married and things like that, they are going to be priced out of the market,” noted Stevens.
The total number of Kentucky homes sold during 2018 was well over 48,000 units.