LBAR: Real estate sales pause during spring season

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Source: LBAR

LEXINGTON, Ky. (WTVQ/AP) – U.S. home prices accelerated in March even though sales plummeted, as those Americans still buying bid for a sharply diminished supply of homes.

The S&P CoreLogic Case-Shiller 20-city home price index rose 3.9% in March, the largest gain in more than a year, up from 3.5% in February.

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Home sales fell 8.5% in March before plummeting 17.8% in April, according to the National Association of Realtors, as the viral outbreak and business shutdowns caused a flood of layoffs and restricted economic activity.

According to the Lexington-Bluegrass Association of Realtors, they saw 968 transactions in 2020 compared to 1,180 in 2019. Single-family home sales dropped 19%, with 906 sales compared to 1,114 last year. Townhouses and condos saw a decline of 6% in April, bringing monthly sales to 62 versus 66 in 2019.

New construction sales continued to strengthen in April with 119 sales, a 33% increase over last year’s 89 sales and pushing new construction to over 12% of the market for the month.

Year-to-date, due to a strong first quarter of the year, total real estate transactions remain up 2% compared to 2019, according to LBAR. Transactions totaled 3,907 compared to 3,835, an increase of 72 homes sold. Fayette County has seen a drop of 6% in sales for the year while the next five largest counties – Madison, Scott, Jessamine, Franklin and Laurel – in total transactions have all experienced double digit increases year-to-date.

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Erica joins the ABC 36 family as a Co-Anchor of Good Morning Kentucky weekday mornings from 5am-7am with Cody Adams and Good Day Kentucky weekday mornings from 9am to 10am. Erica also anchors News at Midday from 12-12:30pm. She is also a Web and Social Media Content Producer. Erica graduated in three and a half years from Michigan State University with a Bachelor's degree in Broadcast Journalism and specialization in Women, Gender and Social Justice. Although she hails from Michigan, Erica has worked as a News Reporter/Sports Anchor for the CBS-affiliate in St. Thomas, U.S. Virgin Islands. Prior to that, she worked for a PBS-affiliate there covering all types of news – even providing live reports for The Weather Channel during her first hurricane. She then moved to Lake Charles, Louisiana and worked as the Weekend Anchor/Reporter at KPLC, the NBC/FOX/CW affiliate. Erica comes to Lexington from the Huntington area where she worked at WSAZ, an NBC/CW affiliate in West Virginia, as a weekday evening anchor covering the tri states of Ohio and Kentucky as well. In addition to her background on TV, Erica has worked in radio, served as the PA announcer for the Class A "Lansing Lugnuts" and hosted Carnival parades in the U.S. Virgin Islands. Some of her favorite hobbies include running, reading, hiking, spending time with her husband and taking pictures of their furbabies. Erica is big on community involvement, having served as a board member for Dress for Success, volunteered as a Big with Big Brothers Big Sisters, worked on the Mayor's Armed Forces Commission in Lake Charles and hosted countless events. She hopes you can connect with her on Facebook: EricaBivensTV and on Twitter: @ericabivens or Instagram: erica.bivens. You can also email her at ebivens@wtvq.com. Please send all event inquiries via email. Erica is excited to explore Lexington and the outdoors and - of course - meet all of you!