The Summer home selling season is now plagued by mania and uncertainty about the economy.
Remember that most of the content that we see about buying and selling homes is typically informed by somebody trying to make a buck.
From what we can tell from TKC HQ (mom’s basement) is that it’s a great time to sell a house but a HORRIBLE time to buy . . . So locals cashing in might be downsizing or maybe hoping to take advantage of freebie housing provided by Mayor Q.
Quick peek at the data . . .
“According to the Kansas City Regional Association of Realtors, the median price in May 2021 for an existing home in the KC area was $255,000, about a nineteen percent increase from the same time last year. The number of available properties has dropped by fifty-three percent compared with 2020.”
Read more from this missive that doesn’t mention the CDC eviction moratorium that might help regulate prices when it ends, if it ever REALLY ends . . .
When will the topsy-turvy local real estate market calm down?
The Kansas City housing market is intense, with soaring prices and limited availability challenging the city’s reputation for affordability. Nationwide, record-low interest rates and rising demand are met with a depleted inventory. The result is dramatic price jumps and homes selling in days.
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