New figures from the Kansas City Regional Association of Realtors shows that home sales in August of this year are 20 percent higher than figures in August of last year. Inventory has also continued to shrink, leaving the current state of the market with lower availability of homes and upping the demand for property in the region, making it four months of consecutive decreasing inventory.
The Kansas City movers have also read data solidifying that home prices throughout the nation, our market included, have continually risen. Price jumps have risen to 4.6 percent–even in foreclosed properties.
New and existing homes are getting action in the local real estate market, which is also instilling long-lost builder and buyer confidence where it has certainly been missed. Hopefully these trends carry into 2013.