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Checking The Pulse Of The Kansas City Real Estate Market

The Kansas City metro area saw a much more gradual uptick in home prices during the boom than many metro areas. This has led to a softer fall for us than what we’re seeing in many metro areas across the U.S. I receive more real estate updates to my Google Reader than any one person can keep up with, but I read many of them and at least gloss over virtually all of the headlines. I’m seeing communities like Minneapolis, Phoenix, Las Vegas, Chicago, Charlotte and Tampa mentioned often as real estate markets that are really struggling to stabilize.

I see that in Minneapolis home prices fell nearly 4% in March alone! That’s an unbelievable drop for a one month period. There has been some good news this year with many hard hit metro areas such as Los Angeles, Boston, San Francisco, San Diego and Washington DC seeing some stabilization with home prices. The Minneapolis market is very interesting because it had done a decent job of avoiding the hard-hitting downturn experienced by some other major markets. But that is all changing now. Two other cities I have started hearing about serious concerns with their real estate markets are Dallas and Denver. Let’s hope those two – and all our major metro real estate markets – avoid what’s going on with the Minneapolis market.

Posted by Jason Brown

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