As the Homes Available For Sale Decrease in Kansas City, Home Values Will Increase - Market May Change to a Seller's Market in 2012

As the Homes Available For Sale Decrease in Kansas City, Home Values Will Increase - Market May Change to a Seller's Market in 2012


Currently the Kansas City real estate market is starting to see a double digit decrease in homes available for sale. This is a positive sign because as there is fewer homes available, home values should increase. 

I looked at the median estimated home values in 4 markets in Kansas City and the decrease of inventory did show that the home values had turnaround from their negative trends. All areas saw a positive increase in the median home values.

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The absorption rate, the months supply of real estate, showed increases. Anytime the absorption rate is above 6 months, the real estate market is a buyers market. An absorption rate below 6, tends to be more of a sellers market.

The absorption rate in all areas of the Kansas City area have decreased with Johnson County leading the Kansas City area with an absorption rate of 6.75 months.

As inventory decreases and the absorption rate drops, look for the market in many parts of the Kansas City area to change from a buyer's market in Kansas City next year to a seller's market.

If you're a home buyer thinking about buying a home or a homeowner thinking about upgrading homes, the window of opportunity is decreasing.

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 

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