LEXINGTON, Ky. — The number of new listings that hit the housing market in February 2024 was the highest since 2020.
The 1,268 properties in the Central and Southern Kentucky region represented an 8% increase over the 1,170 last year and was 20% higher than the previous month’s total of 1,053 homes. This is positive news for buyers as the spring market emerges, which has long been considered the peak buying period for real estate.
Housing inventory continued to increase year-over-year with 2,646 homes on the market in February compared to 2,524 last year, a 5% annual jump. Inventory levels, however, decreased from the previous month by 7% as they reached 2,839 available properties.
“More housing supply going into the warmer months will help satisfy demand in the region,” said Randy Newsome, president of Bluegrass Realtors. “Buyer frustration can set in when housing choices are limited, so any uptick in inventory is good for the market.”
