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Kentucky housing market at tipping point, survey finds

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Kentucky housing market at tipping point, survey finds


LEXINGTON, Ky. — Thirty-eight % of Kentucky Realtors count on home costs to fall, whereas seventy-seven % count on homes to remain available on the market for longer, in accordance with the Could 2022 version of the HousingIQ Survey of Kentucky Realtors.

“The market is at a tipping level. Homebuyers face three challenges—larger home costs, larger mortgage charges, and considerations concerning the economic system. 50% of the survey respondents stated a few of their patrons had dropped out of the market due to larger mortgage charges whereas 41% count on a lower in foot site visitors,” stated Vidur Dhanda, survey writer. “Sellers are attempting to get in entrance of the market slowdown with 61% of the respondents anticipating elevated price-cutting by sellers. Nonetheless, which may not be sufficient for some patrons.”

Within the newest Residence Buy Sentiment Index difficulty, which tabulates nationwide client sentiment, Fannie Mae reported {that a} survey-high 79% of respondents stated it’s a “dangerous time to purchase” a house, because the headline index inched nearer to its April 2020 low.

The Mortgage Bankers Affiliation reported that the nationwide weekly Buy Index was 21% decrease than a 12 months in the past.

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Dhanda continued: “We now have been reporting elevated investor exercise for the final a number of months. 38% of the survey respondents stated that investor exercise had picked up within the final three months and 43% anticipated elevated gross sales to buyers. As patrons get priced out, buyers will strategically add to their portfolios so long as the rental market stays robust.”

COMPARED TO A YEAR AGO 

  • 38% count on home costs to fall—a 26-point enhance
  • 77% count on homes to remain available on the market for longer—a 50-point enhance
  • 61% count on higher price-cutting by house sellers—a 35-point enhance
  • 41% anticipate a lower in foot site visitors—a 32-point enhance

Based mostly on the month-to-month survey information, the HousingIQ/Kentucky Realtors Confidence Index supplies a composite measure of expectations for the Kentucky housing market over the subsequent 12 months.

The HousingIQ/Kentucky Realtors Confidence Index dropped 5 factors from final month to shut at 33. In comparison with a 12 months in the past, the headline index is nineteen factors decrease. A worth of 100 corresponds to all respondents agreeing that market circumstances will enhance. In distinction, 50 corresponds to respondents anticipating no change in market circumstances.

The Worth Expectation sub-index dropped 5 factors from final month and is 24 factors decrease from a 12 months in the past, reflecting a continued slowing down in value development. The Purchaser Energy sub-index gained 11 factors and is 34 factors larger than final 12 months, indicating the rising leverage patrons are getting out there. The House owner Stress sub-index was largely unchanged and is 2 factors decrease than a 12 months in the past.

The survey outcomes can be found right here.

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Click on right here for extra Kentucky enterprise information.



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Kentucky

Five dead after shooting at 21st birthday party in Florence, three wounded • Kentucky Lantern

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Five dead after shooting at 21st birthday party in Florence, three wounded • Kentucky Lantern


Five people — four victims and the suspect — have died following a shooting that occurred in Florence early in the morning on Saturday, July 6. Three more people are in the hospital but are in stable condition, according to Florence Police, who are characterizing the incident as a mass shooting. 

Police officers were dispatched to a house on Ridgecrest Drive at around 2:50 a.m. Saturday. By the time the police arrived, the suspect had already driven away from the scene, a written police statement reads. Four victims were pronounced dead at the scene and three more were transported to UC Hospital, where they are currently in stable condition and expected to make a full recovery.

Florence Police Chief Jeff Mallery identified the four victims at a press conference Saturday afternoon: 20-year-old Shane Miller, 20-year-old Hayden Rybicki, 19-year-old Delaney Eary and 44-year-old Melissa Parrett. One of the victims was the home owner. 

“Our hearts and prayers go out to the families of the victims,” Mallery said at the press conference, visibly emotional.

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LINK nky’s content sharing partner WCPO had crews on the scene and interviewed a neighbor, who said at around 2:15 a.m. after he left a party, he heard what he first thought were fireworks. At the press conference, Mallery added that police officers had heard gun shots upon their arrival at the house.

A 21st birthday party was being held for Parrett’s son at the time of the shooting, Mallery said.

Mallery said other partygoers told officers the shooter fled in a vehicle. Officers were able to track down the suspect and attempted to stop him near Farmview Drive and US-42, but the suspect fled again. A chase ensued. Finally, the suspect drove off the road into a ditch on Dale Heimbrock Way near Hicks Pike. The officers located the suspect with what appeared to be a self-inflicted gun shot wound. He was transported to St. Elizabeth Hospital, where he died. Authorities don’t believe Garvey was invited to the party, but he was known by other partygoers, Mallery said.

The suspect has since been identified as 21-year-old Chase Garvey, who was a convicted felon from a previous sex offense, but Mallery said they don’t believe that is connected to the shooting. Records from the courts and the Department of Corrections indicate that Garvey was on probation for a felony charge of unlawfully transacting with a minor in 2021. He was sentenced to five years in prison, but the sentence was suspended in favor of probation on the condition he didn’t interact with the victim, didn’t commit any more crimes, engage in psychological counseling and maintain employment. He was scheduled to come off of probation in 2027. 

Mallery said Garvey’s motive is still under investigation.

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“We have never dealt with this before,” Mallery said. “I know it’s gone on throughout the nation, but this is the first time that we’ve had a mass shooting in Florence.”

The Florence Police Department is asking anyone who has any information related to this event to call them at (859)371-1234.

This is a developing story and LINK nky will report more on it as information becomes available. 

WCPO’s Sean DeLancey, Molly Schramm, Krizia Williams & Michael Coker contributed reporting to this story.

This story is republished from LINK nky.

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4 killed in shooting at Kentucky home in US – The Statesman

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4 killed in shooting at Kentucky home in US – The Statesman


Four people were killed and three others injured in a shooting at a home in Kentucky in the US on Saturday, police said.

According to the Florence Police Department, four individuals were declared deceased at the location, while three others were taken to a nearby hospital and are currently in critical but stable condition.

Officers responded to the residence at nearly 3 a.m. on Saturday and as they approached the home, they still heard shots being fired, Police Chief Jeff Mallery said at a press conference. People were attending a birthday pool party at that time.

The suspect, described as an adult male, fled the scene in a vehicle prior to police arrival, leading to a police chase. The suspect then drove off the road and crashed into a ditch. Law enforcement found the suspect with a self-inflicted gunshot wound. He was transported to a nearby hospital, where he was later pronounced dead, Xinhua news agency reported.

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Party attendees recognised the suspect and provided his identity to the police. According to Mallery, he had a prior conviction for a sexual offence, though it does not appear to be connected to the shooting.

Officials said that an initial investigation indicated the suspect acted alone, and there is no danger to the public.



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Former Kentucky assistant & current Ravens QB coach, Tee Martin, praises Devin Leary

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Former Kentucky assistant & current Ravens QB coach, Tee Martin, praises Devin Leary


The Baltimore Ravens selected Kentucky quarterback, Devin Leary, in the 7th round with the 218th pick in the 2024 NFL draft. Leary transferred in to play in Lexington from NC State and expectations were high, especially as he was being paired with rockstar offensive coordinator, Liam Coen. Unfortunately for Big Blue Nation, the hype of both men did not play out to its fullest. Leary had more than a handful of remarkable throws last season, but there were a few too many he would like to have back.

Regardless, the skillset is there, and it was enough for a flyer draft selection from an NFL contender.

The fit is a bit peculiar, as Leary is not exactly a runner and the Ravens feature a QB-run heavy offense considering they have Lamar Jackson. Still, Leary’s arm strength and time in the more spread NC State offense have the Baltimore coaching staff optimistic about Leary’s potential.

At least, former Kentucky assistant and current Ravens’ quarterbacks coach, Tee Martin, thinks so. Martin served as wide receivers coach at Kentucky from 2010 to 2011. After that, he bounced around to various colleges until he landed with the Ravens in 2021.

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When asked about what he has seen from Leary thus far in camp, Martin had good things to say:

“[Devin Leary is] arm-talented, smart [and] competitive, [He] can make all the throws on the field, and he’s doing a really good job of learning the offense and executing the offense. He played in a pro-styled system at [the University of] Kentucky, his last year [after playing] four years at N.C State. [It’s] a different type of system, but we’re kind of a marriage of both. He’s comfortable in what we’re doing. [He’s] very talented, extremely talented. I look forward to him playing in the preseason.”

Tee Martin | Baltimore Ravens

Veteran, Josh Johnson, is the favorite to win the Ravens’ backup quarterback role, but if Leary can prove himself throughout the summer and preseason, he could latch onto the 53-man roster and make some good money holding a clipboard on the sidelines for a few years until the Ravens or another team calls his number. He is battling fellow rookie Emory Jones out of Cincinnati for the third QB spot.

The Ravens will take on the Eagles on August 9th in their first preseason game.



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