The Kansas City housing market continues to show strength while facing interest rate increases and seasonal headwinds
KANSAS CITY – The greater Kansas City housing market is still showing signs of continued strength. One example of this is how long homes are on the market, the time from when a home is listed to when it is placed under contract.
Many things can influence these numbers, such as condition of property, interest rate fluctuation, time of the year when the property is listed, and so on. But it is a commonly viewed indicator of supply and demand. When the numbers are short, demand is outpacing supply, and when the numbers are longer, the supply of homes is greater than the demand.
The September 2018 numbers provided by Heartland Multiple Listing Services give us an indication of this; That year over year strength in September is still showing a robust housing market, and that typical seasonality, ie, summer months tend to be more active than the fall, is evidenced by the slight uptick of time on market for September compared to the June-August time frame.
By: Richard Wood