Louisville real estate professionals report that 1084 single-family homes and condominiums sold in the area this past August, which represented a 12.3 percent increase from August 2008, but a slight decline from July’s home sales in the Louisville metro area. The increase in home sales for August over the previous year was the second straight month for members of the Greater Louisville Association of REALTORS^®. July’s sales interrupted a streak of nearly two years of lagging sales by posting 1276 home and condo sales, a 26 percent increase over July 2008 home sales. Greater Louisville Association of Realtors president Jan Scholtz stated that the number of homes and condos sold in August indicate the continuing stabilization of Louisville’s housing market. “It’s the first-time home buyers that are making the market positive right now,” she said. Many first-time buyers are motivated by an $8,000 federal tax credit. She said that Louisville area home sales are expected to continue to show improvements at least through December 1 when the tax credit program for first-time homebuyers is expected to end. If the tax credit program does not extend, she said consumer confidence will determine how the Louisville real estate market performs. Louisville homebuilders and realtors remain optimistic that the tax credit program will cause a “trickle up” recovery that will boost sales of more expensive homes in the area as first-time homebuyers move to larger homes with more amenities. The median selling price for homes sold in August 2009 was $136,800—down from $140,000 in August 2008, although a significant improvement from February 2009 $119,000 median selling price.