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Friday, March 29, 2024

Assessing the KC housing market

Credit: 41 Action News
Duration: 02:00s 0 shares 1 views

Assessing the KC housing market
Assessing the KC housing market
A look at the KC housing market report card this year.

THIS MORNING WE VEHANEW DATA ON THEHOUSING MARKET AROUNDKANSAS CITY.THE FIRST HALF OF THISYEAR HAS OUT-PACED THEPAST TWO.KSHB 41 NEWS REPORTERCHARLIE KEEGAN JOINS USWITH A CLOSER LOOK ATWHAT THIS MEANS.IN SIMPLEST TERMS ITMEANS WE'RE IN ASELLER'S MARKET -WHERE SOMEONE SELLINGTHEIR HOUSE - STANDS TOGA.

INBUT IT'S COOLINGSLIGHTLY.NEW DATA FROM KCREGIONAL ASSOCIATIONOF REALTORS ALL LOOKSUP.COMPARING JANUARYTHOUGH JY.ULFOR NUMBER OF SALES -GONE UP EVERY YEAR -MORE THAN 25-THOUSD ANSO FAR THIS YEAR.PRICE IS ALSO JUMPING -AVERAGE HOME GOINGFOR 301-THOUSANDDOLLARS IN THE GREATERKC REGION.AND HOMES DON'T LASTLONG - FROM 52 DAYONSTHE MARKET IN 2019 TO 25IN 2021.IN THIS SELLERS MARKET -HERE'S ADVICE FORBUYERS WHO'VE BEENDISCOURAGED DURINGTHE PAST YEAR OR SO.Tony Conant // President ofKansasCity Regional Association ofRealtors"I would tell you, mbeaybuyers that are out therewho've been frustrated before,maybe take another look.

LikeI said, the market is cooling,we're starting to get mesomore inventory, we're startingto ease all the multiple offerswe were seeing."CONANT SAID THE MARKETIS SLIGHTLY COOLINGBECAUSE RECENTLYHOMES SEEM TO BELASTING DAYS NOT JUSTHOURS ON THE MARKET -STILL ONLY 25 DAYS ONAVERAGE WHICH ISN'TMUCH - BUT YOU MIGHT BESURPRISED WHAT YOUFIND AS A BUYER NOW.SO WHEN WILL THEMARKET RETURN TONORMAL?CONANT PREDICTS IT'LBELANOTHER 2 YEARS ATLEAST UNTIL INVENTORYCATCHES UP - DEMANDGOES DOWN AND THINGSBALANCE BACK OUT

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