THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
HO HO HO! MEEERRY CHRISTMAS! With the holidays in full swing, we’re keeping an eye on the gifts that just keep giving in the housing markets.
Keep in mind our midwest housing markets never went to the moon with 50-60% price increases; we settled for a more modest 18% increase in values. So we won’t have the 50-60% crash that is currently hitting many larger, more populace markets.
Mortgage rates have dropped from 7.31% to 6.475 for well-qualified borrowers; and over the past week, the “Holiday Contraction” has both reduced the inventory on market as well as driven down pending sales.
Overall activity has remained stronger than anticipated with fewer sellers reducing prices and average sell prices increasing just slightly ahead of average list prices. (See below).
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers! Click the button below and let’s get you the information you need to be successful!