Sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. In the metro area we are beginning to see upward movement in new listings. While low inventory will continue to create a competitive situation for buyers, while driving prices higher, a longer term trend toward more new listings is a good sign.
Closed sales for existing homes decreased over the past month but increased on new homes. Median sales price was up 9.1%. Days on market decreased 16.3% on existing homes.
This past winter and spring brought us unseasonal weather patterns. As the weather becomes more comfortable, wages and consumer spending are both up, which should be reflected in a positive housing market. Buyers that are quick with an offer are the winners in today’s market, along with getting ahead of mortgage rates increases expected in the future.
Interested in stats of one of our KC Metro Counties – click below or let me know if you want info on a city or specific neighborhood and I’ll put a report together, just for you!