BluegrassForeclosure.com

Kentucky.com is reporting that home sales are up 11.5% for this September compared to the same time period last year.  39.4% of the homes sold during September were to first-time home buyers.  Clearly the Federal tax incentive of $8,000.00 is driving much of the increase in home buying.  Along with home sales being up, the median home price has dropped though as well by 11.5% from last September.  This appears to be a much needed correction to the inflated home prices from the housing bubble.  Even in Central Kentucky, home prices went up too much, too quickly.

Finally, home inventory is going down.  Do consumers see light at the end of the tunnel?  Or are frustrated home owners, just buckling down and are willing to stay in their house longer?  Any thoughts?