Comments Off on Low Housing Inventory In Johnson County KS Leaves Home Buyers Competing For Homes

Checking The Pulse Of The Kansas City Real Estate Market

Buyers of every type have been coming out of the woodwork for much of the past year and it’s resulted in the Johnson County Kansas area having a low volume of inventory not seen in many years. This means most home sellers are sitting in a much better position than they were just a couple of years ago. Although not everyone has made back all the equity they lost in the market downturn, the real estate market has clearly stabilized in most areas of Johnson County Kansas. Most areas are actually in a seller’s market with regards to volume of inventory and were seeing many situations of multiple offers on properties — which pushes sales prices higher.

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One of the big changes from recent years is that buyers are active in virtually every segment of our local residential real estate market. More and more investors are out in force looking for flips or for properties to hold and rent out. First time home buyers are buying homes at affordable prices and move-up buyers that have been sitting the fence are finally making the move to accommodate their growing families. Some buyers who lost their homes previously have improved their credit scores enough to purchase a home. We’re also seeing more relocation calls than we’ve seen in many years.

All of this has created a seller’s market in regards to volume of inventory and, in many cases, a stabilized market in regards to home prices. If the volume of inventory remains down and demand remains strong, rising home values is the next logical step. I’m expecting that more homes listings will hit the market as more seller’s realize the opportunity in the current market and we’ll see how that, along with the typical rush of spring listings, affects the market in the next few months.

Posted by Jason Brown

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