If you were one of the lucky few to purchase one of the many homes for sale during the 2015 Kansas City real estate boom, you got in while inventory was low and sales percentages were up. As of August 2016, new home sales were up by 9.2%. According to housing market forecasts, prospective home buyers can look forward to a persistent boom in the real estate market after an 8% increase in new homes for sale this year.
Buyers who purchased in the first half of the year will benefit from a strong real estate market and the annual Spring Kansas City Home Builders Associations Parade of Homes next year. This annual event ensures that hundreds of newly built homes open up for sale every year, making Spring the peak of the Kansas City home buying season.
Prospective buyers are showing an increased interest in the Kansas City and Overland Park areas which both hold a yearly increase in new and existing home availability. Additional Kansas City suburbs that offer excellent crime ratings, housing costs, and home values include Blue Springs, Prairie Village, and Parkville.
Whether you are relocating within Kansas, or moving across country, the continued real estate boom offers hope for prospective home buyers. In order to forge ahead in the 2016 and 2017 housing market, buyers should hire an exclusive buyer agent to ensure that you aren’t overreaching, yet still remain flexible. An exclusive buyer agent will also make you aware of any hidden costs and help you seek out any up and coming neighborhoods.
Booming real estate market expected in 2016
2016 Kansas Housing Forecast Publication
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