Checking The Pulse Of The Kansas City Real Estate Market

My National Association of Realtors has released the second quarter 2010 market statistics for the Kansas City metro area. The local trend shows that home prices have rising 4% when compared to the second quarter of 2009. The report gives us a look back nine years and I found it interesting to note that second quarter sales prices in the Kansas City area are down $7,100 on average compared to three years ago, but still up $5,900 over the past seven years.

So the average buyer who bought in 2003 is still ahead after the market downturn, but the average buyer who bought in 2007 is, well, wishing they’d bought in 2003. There’s a ton of other interesting information in the NAR report, including local employment growth at a rate better than most other markets and construction being on the rise – albeit it modestly – which indicates local new home inventories have stabilized.

The report also shows the Kansas City real estate market is one of the most affordable housing markets in the U.S. and there’s also details showing a decrease in the volume of loan delinquencies, thus suggesting area foreclosure rates should decrease in the future. Be sure to click the graph above to check out the entire report on the Kansas City metro area. Be patient after clicking on the graph as it’s a large PDF file and could take a minute to open.

Posted by Jason A. Brown