Home sales are a booming business right now based on recent National Association of Realtors figures, which show April hitting a record in number of homes sold and the median home price continuing to shoot higher.

Sales of single-family homes rose 4.5 percent in April to a record seasonally adjusted annual rate of 6.28 million, up from 6.01 million in March, according to a news release. In comparison, a year ago April, there were 5.98 million single-family units sold. Total existing home sales -- including town homes, condominiums and co-ops -- rose 4.5 percent in April to 7.18 million from 6.87 million in March. In comparison, the total for April a year ago was 6.79 million units sold.

The national median single-family home price in April was $203,800, an increase of 15 percent compared with April 2004. And the national median existing-home price for all housing types was $206,000 in April, up 15.1 percent from April 2004 when the median was $179,000.

The industry had expected a slow-down as interest rates inch up. "A new record is a bit unexpected, but so is the performance of mortgage interest rates, which have been lower than forecast," David Lereah, NAR's chief economist, said in the release. The national average interest rate for a conventional 30-year, fixed-rate mortgage was 5.86 percent in April, down from 5.93 percent in March, the release said. The rate was 5.83 percent in April 2004.
Realtors association to hold summer activities

The Greater Louisville Association of Realtors is organizing a couple of summer activities for members and is gearing up for its annual conference in September. On Friday, June 24, the association is hosting a Realtors night out with the Louisville Bats. The event is open to friends and family, includes a dinner buffet and left-field seats. The cost is $16.50 for adults and $10 for children age 6 and under. Monday, July 11, the 2005 Realtor Golf Scramble will be held at Polo Fields Golf and Country Club. Registration is $60 and includes lunch, fees and prizes.

For more information on sponsorships, go to www.louisville realtors.com. The organization's annual meeting and inaugural luncheon will be held Thursday, Sept. 22, at the Louisville Marriott Downtown. The program will include the association's awards program. For more information, call 894-9860.
State association plans September conference

The Kentucky Association of Realtors is seeking exhibitors and sponsors for its "Mission: Possible, KAR Convention 2005," which is set for Tuesday, Sept. 27, to Thursday, Sept. 29. The event will be held at the Galt House Hotel & Suites in Louisville.

The annual conference will include a trade show, guest speakers on subjects including customer service and identity theft, plus seminars offering continuing-education credit.
Real estate commission part of state task force

The Kentucky Real Estate Commission is participating in a task force that has begun looking at the problem of predatory lending in Kentucky, according to Lee Harris, general counsel for the commission. The task force, which is being sponsored by the Kentucky Housing Corp., held its first meeting in May, Harris said. The aim is to "address issues of predatory lending in the state," Harris said, in particular to "educate buyers, sellers and brokers."

The commission also is helping organize the ARELLO Investigators Workshop that will be held Thursday, Aug. 18, to Saturday, Aug. 20, at The Brown - A Camberley Hotel in Louisville. The Association of Real Estate License Law Officials is made up of governmental agencies, such as the real estate commission, that issue real estate licenses, regulate real estate practices and enforce real estate law.
Increasing competition fuels real estate trends

A more competitive sales climate is the dominant factor affecting residential real estate sales in 2005, according to a report from RISMedia that highlights the top trends for this year. The trends included:

* Instant gratification. Consumers increasingly look for more immediate response from real estate professionals and are less willing to wait a few hours for return calls and e-mails.
* Real estate companies can expect more "cyberspace carpetbaggers" to enter the field with Web sites that offer instant listings, advertising and photos.
* With interest rates on the gradual rise, there will be fewer quick sales and homes will be on the market longer.

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