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Kentucky existing home sales and construction growth are much higher than a year ago, according to the National Association of Realtors Local Market Report. Growth for the fourth quarter of 2009 was 37 percent higher than 2008 and outpaced the national average.

The central Kentucky real estate market continues to outperform several important national trends, according to the report. In terms of price activity, Lexington enjoyed a 1.8 percent one-year appreciation in the fourth quarter of 2009, while the U.S. saw a 4.0 percent decline.

The Lexington area is affordable compared to most markets. Measure of local affordability have improved and remain better than the national average. Lexington's 2009 local median home price compared to local average income stands at a ratio of 3.7 while the U.S. is 6.2.

And Lexington is cited as 23rd Healthiest Builder Market in U.S., according to the Builder Market Health Index

"This is great news for the community. In addition to housing affordability, the real estate industry groups employ thousands of people and provide over twenty percent of Lexington's economy," says Todd Johnson, Home Builders Association of Lexington (HBAL) Executive Vice President.

Click here to view the complete Local Market Report for Lexington.