Kentucky, with a location between Southern and the Midwestern states, has a unique blend of Southern, Midwestern culture, and their own. Known across the country for the state’s many resources, sports, and music; Kentucky has the reputation as a wild, untamed country state. The most famous associations with the state play a large part in the persona the state radiates. Most famous for the creation of Kentucky Bourbon, the Kentucky Derby horse race, and its rich Bluegrass music history; the state boasts a very rural, laidback culture. A lot of Kentucky is very agricultural with farms spread throughout the state. Farms and distilleries play a large part in the economy and culture of the state. Huge developing cities like Louisville and Lexington continue to attract residents from other parts of the state and the rest of the country. As these cities expand, rural farms and agriculture are beginning to disappear as businesses and other industries enter the Kentucky market. Major cities in the state have transformed into well-developed modern landscapes with numerous employment opportunities and attractions.

The production of many different resources plays a large part in the culture and economy of the state. Horse breeding is actually one of the largest sectors in the state’s economy. The state is known as one of the best breeding grounds for Thoroughbred racing horses. It is actually one the state biggest exports based on value. Horse farms are abundant in areas that surround the Greater Lexington area. As a somewhat ironic coincidence, the state also has a heavy production in car manufacturing. Cars, the modern man’s horse, require a large amount of work to manufacture. Chevrolet, Toyota, and Ford all have manufacturing plants in the state which employ a large number of employees. Other large businesses like Wal-Mart have moved into the state and create thousands of jobs for residents. Wal-Mart’s distribution center in London has helped to employ a large number of residents living in the area. The city has experienced rapid growth since the center was established. Small towns throughout the state are experiencing the largest growth as larger businesses move in to take advantage of low employment costs. Read more »

Kentucky’s numerous employment opportunities and gorgeous landscape make it a great place to live. Residents enjoy many different natural attractions. The Cumberland Gap, Mammoth Cave, and Red River Gorge are some of the most popular geological features in the entire area. Abundant forests and powerful rivers also provide an environment that is very warming to new residents. Louisville, the largest city in the state, has even undergone drastic improvements to make the downtown urban area greener with thousands of new trees and trails. As the state continues to develop, it manages to maintain its natural roots.

Sales Trends
The Kentucky housing market is performing well compared to most of the rest of the country. Average home prices for the state are much lower than other states in the area. Low prices and numerous job opportunities are attracting home buyers from all over. The Louisville market has been increasing in population at a steady rate. Home prices are much more affordable than other major cities in surrounding states like Cincinnati, Nashville, and Indianapolis. The city managed to sell 3,671 new homes in 2008, largely due to the affordability of houses in the market.

Other Key Trends
Smaller cities in the state have also had impressive housing sales in recent years. It is no surprise that the largest population increases have been in the areas where numerous jobs have been created. People are most interested in moving to places where abundant jobs are available. London is one example of a small town that has seen a lot of new housing activity in recent years. With the introduction of Wal-Mart’s distribution center, thousands of new jobs have been created in the area. The small town has almost doubled in size in the last decade from 5,692 to 10,879. Many other towns throughout the state are experiencing similar growth. Total housing sales for the state are above par for the rest of the country because of the large builder activity in the state’s many smaller towns.  « Close »