THE INDEXKC- KC MISSOURI MARKET UPDATE
Kansas City, Missouri stats remain strong and consistent….The only weakness we see is with a stat not on this graphic related to the rising number of rental proparties coming to market. Though some of these will sell vacant, as owner occupied, many will come to market with tenants in residence, and will then impact days on market.
Pro tip the market for specialty properties, like rentals, converts more slowly. The rise in interest rates hits investment properties harder, as those mortgage rates for investment homes trend 1-1.5% higher than owner occupied homes.
Check out the number of price reductions and the watch the days on market continue to extend as the market shifts….The shift is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!