Checking The Pulse Of The Kansas City Real Estate Market
The Case-Schiller 20-city real estate index – which provides data on a sampling data on our national metro area real estate markets – shows that we’re nearing an all time low in the volume of home sales. It’s interesting that while home sales fell 1%, median sales prices rose an astounding 5.8% during the same period. Despite that rise in sales prices, the decline in the volume of home sales overall has the 20-city index nearing its lowest point since November 2009. Note how this graph shows us back at 2003 levels.
It’s noteworthy that the last several years shows the real estate market has been relatively stable. The Case-Schiller 20-city index tells us that 80% of the cities experiencing monthly increases in sales prices but annually 19 of the 20 cities experienced lower sales prices. Home sales overall are nearing their lowest point ever and if that trend continues it’s unlikely average home sales prices will continue to buck the trend.
Posted by Jason Brown
