More information on last weeks NAR pending home sales report…. How will this affect the Kansas City real estate market?
Worth noting is the fact that the national real estate market is recovering despite added lending standards that make financing a home more difficult and no government stimulus like a a home buyer tax credit. With the added economic pressures, Americans clearly believe in homeownership and that isn’t going to change anytime soon.
The National Association of Realtors (NAR) released their Pending Home Sales Report for March showing home sales increasing with the seasonally adjusted national index climbing 5.1% since February while remaining 11.4% below the level seen in March 2010.
From the National Association of Realtors Chief Economist, Laurence Yun:
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own, … The index means modest near-term gains in existing-home sales are likely, which would be even stronger if tight mortgage lending criteria returned to normal, safe standards.”
Despite more distressed sales like foreclosures and short sales, I see the Kansas City real estate market heating up. I'm seeing multiple offers on homes and even having to wait at homes when showing because another real estate agent showing another interested buyer. Kansas City home buyers looking to time the market and buy a home at its lowest value may have a small window left.
If you or someone you know is interested in timing the real estate market, lets sit down over a cup of Starbuck's coffee and talk . . .
RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?
Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty
Comments are appreciated! Go ahead and add your 2 cents . . .
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