Kansas City Metropolitan Housing Statistics For June 2009

JUNE HOUSING MARKET STATISTICS

The average new home price this month is 4% higher than one year ago, and the average existing home price this month was down 3% from one year ago.

The average price for combined (new and existing) homes in the region is down 4% over June 2008.

New home sales increased 10% over the past month and are up 76% since January. This represents a 26% decrease from one year ago.

Existing home sales increased 17% over last month and are up 124% since January. This represents a 2% increase from one year ago.

New home inventory continues its steady decrease again this month and is 34% lower than last year. Resale inventory is slightly lower than a month ago and is 13% lower than it was last year. New and existing inventory combined is slighly lower than last month and is 17% lower than last year.

Supply in the region showed little change over the past month. Supply for combined new and existing homes showed an 8.1 month's supply for June compared to 7.3 in May. The existing home supply rose slightly to 7.7 months from 6.8 in May, and the new homes supply dropped from 11.6 in May to 11.5 this month. A buyer's edge is still present in both the new and existing home markets.

Generally speaking, a 5-6 month supply of homes on the market is a balanced market. When supply exceeds 6 months, the market begins to favor buyers and when the supply is less than 5 months, the market tends to favor sellers.

Source: Kansas City Regional Association of REALTORS and Heartland Multiple Listing Service

MARKET COMMENTARY FOR JUNE 2009

MARKET STATISTICS FOR JUNE 2009

Should you want market statistics for your neighborhood, contact Ron Mowery, Real Estate Professional at (913) 269-0479 or email him at Ron@JoCoHomesOnline.

Posted Wednesday Jul 29