Home sales are breaking new ground
Though it came neither fast nor easy, Kentucky’s residential real estate sector has recovered from the steep losses of the Great Recession, and the past two years is breaking new ground for sales, according to recent numbers by the Kentucky Association of Realtors.
After a record-breaking 2015, 2016 achieved the distinction of the highest number of total home sales ever recorded in the state, at 52,123. Prices are rising and days on the market are shrinking as inventory decreases.
It’s good news for Kentucky’s economy because residential real estate demand is an engine that drives major industries and services – white collar, blue collar, wholesale and retail – which in turn pump dollars into industries such as construction, materials, supplies, retail. Read More