5 Trends That Defined the 2022 Real Estate Market

December 2, 2022 in Guest Columns

By Michael Pierce, 2022 KCRAR President With lower home sales, higher interest rates, and rising inflation, it is easy to fall into the mindset that your business growth will be an inevitable victim of circumstance. In reality, this is a time of great opportunity for business growth. There are no circumstances that can hinder your growth as a professional […]

November 10, 2022 in KCRAR

National Association of REALTORS® Key Highlights At just 26%, the share of first-time buyers was the lowest since NAR began tracking the data. The typical first-time buyer was 36 years old – an all-time high. The median distance between the home that recent buyers purchased and the home from which they moved was 50 miles […]

October 20, 2022 in KCRAR

Kansas City home values will rise next year but at a much slower rate than this year, according to the 2023 Kansas City Housing Forecast published by the Wichita State University Center for Real Estate. Presented in print and digital booklets, these forecasts are offered for every major metro area in the state of Kansas […]

in Community

National Association of REALTORS® Key Highlights Existing-home sales sagged for the eighth consecutive month to a seasonally adjusted annual rate of 4.71 million. Sales slipped 1.5% from August and 23.8% from the previous year. The median existing-home sales price increased to $384,800, up 8.4% from one year ago. The inventory of unsold existing homes declined […]

October 7, 2022 in Community

By Melissa Dittmann Tracey, REALTOR® Magazine Despite a slight decrease this week in mortgage rates, the average for the 30-year fixed-rate loan remains more than double what it was a year ago, adding hundreds of dollars per month to financing costs for home buyers. This is prompting more buyers to retreat from the market: Mortgage […]

September 22, 2022 in Community

National Association of REALTORS® Key Highlights Existing-home sales decreased for the seventh straight month to a seasonally adjusted annual rate of 4.80 million. Sales tailed off 0.4% from July and 19.9% from the previous year. The median existing-home sales price rose 7.7% from one year ago to $389,500. After five successive monthly increases, the inventory […]

August 25, 2022 in Community

National Association of REALTORS® Pending home sales dropped slightly by 1.0% from June. It was the second straight monthly decline and the eighth in the last nine months. Pending sales fell in three of four major regions, with the West posting a small increase. Compared to the prior year, contract signings declined by double digits […]

August 11, 2022 in Community

National Association of REALTORS® Key highlights Eighty percent of metro markets – 148 of 185 – saw double-digit annual price appreciation in median single-family existing-home sales prices (70% in the previous quarter). The national median single-family existing-home price rose 14.2% annually to $413,500, surpassing $400,000 for the first time. Housing affordability significantly declined as the […]

August 5, 2022 in Community

By Catherine Mesick, REALTOR® Magazine The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence Yun, chief economist for the National Association of REALTORS®. And several healthy economic trends, including a robust job market, coupled […]