Kentucky Realtors reported last week that first-quarter home sales across the state dropped 1% this year to 10,322 homes.
And the organization attributed that to a lower inventory of homes on the market.
Jesse Kunerth - stock.adobe.com
The number of houses on the market was down 3% in the first quarter, according to a news release.
"This inventory shortage continues to drive up the median sale price of residential units in Kentucky," the release said.
"Rising sale prices should eventually moderate the number of units sold and slowly boost inventory, but we are not seeing this happen yet."
The median home price in the state was $132,913 in the first quarter — up slightly from $132,367 a year ago.
Nationally, the median was $259,400 — up from $249,800.
