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April Housing Trends Newsletter

ts been a slow real estate market in Kansas City for the first quarter of a year.  But prices are still on the rise due to large demand and low inventory.  So if you want to sell a home, right now just might be an optimum time to sell.  

Also Interest Rates on on the rise, with short-term interest rate up by 25 percent in March, bringing interest rates to their highest point in four years.  But still low.

  
Existing-Home Sales Rebound 3.0
 Percent in February
WASHINGTON (March 21, 2018) - Despite consistently low inventory levels and faster price growth, existing-home sales bounced back in February after two straight months of declines, according to the National Association of Realtors®. Sizeable sales increases in the South and West offset declines in the Northeast and Midwest. Read more 

Exclusive: Property Brothers Reveal How to Save Tons of Cash on Kitchens!
“Property Brothers” stars Jonathan and Drew Scott don’t just create dream homes for their clients on TV-they also do it for free! How? As part of Habitat for Humanity’s second annual Home Is the Key Campaign, running through the month of April, the Scotts are helping build two homes in Nashville, TN, for single moms Ashlee and Amanda.”.  Read more

Afraid of Selling Your Home Too Soon-and Missing Out on Tons of Cash? Consider This  Many home sellers worry that bad timing could cause them to lose out on thousands of dollars, but the calculation is complex.   Read more


What’s Holding Back New Home Construction? There’s No One to Build ‘em!  The lack of homes on the market is driving prices to new highs across the nation. A construction worker shortage is partly to blame.  Read More


National housing indicators from February

Existing home sales 

5.54 millions units*

Existing home median price 

$241,700

Housing Starts

1.236 millions units*

New home sales

0.593 millions units*

National economic indicators

Home ownership

4th Quarter 2017

64.2%

3rd Quarter 2017

63.3%

The homeownership rate of 64.2 percent was not statistically different from the rates in the fourth quarter 2016 (63.7 percent) or the third quarter 2017 (63.9 percent).

New Home Sales

January 2018

-7.8%

February 2018

-0.6%

Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.6 percent (±13.3 percent)* below the revised January rate of 622,000, but is 0.5 percent (±16.6 percent)* above the February 2017 estimate of 615,000.

Availalbe

8013 Virginia - KCMO – Rental


Just Sold 

3756 N Lister Ave, KCMO
11014 Newton, KCMO



Pending  

None


Regional markets 

MO – Columbia Area
MO – Kansas City Region

MO – Springfield Region
MO – St. Louis Region




Local Board Statistics

New residential real estate activity has been relatively slow in the first quarter of 2018, yet housing is proving its resiliency in a consistently improving economy. Some markets have had increases in signed contracts, but the vast majority of the nation continues to experience fewer closed sales and lower inventory compared to last year at this time. Despite there being fewer homes for sale, buyer demand has remained strong enough to keep prices on the rise, which should continue for the foreseeable future.


March Stats



Average Sale Price $214,228
                                         (up 7.1%)
Median Sale Price $185,000
                                  (up 10.1%)
Average Days on Market 49
                                  (down 12.5%)
Months Supply  1.5
                         ( down 25.0%
 
 Visit KCRAR Reports 



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