MAY HOUSING MARKET STATISTICS
Combined (new and existing) home sales in the region were up 17% over last month, which represents an 18% decline from May 2008. Combined home prices decreased 6% over this time last year.
New home sales rose 20% over last month, a 35% decrease from one year ago.
Existing home sales saw a 16% increase over last month, down 15% from May 2008.
New home inventory continues its steady decrease again this month and is 35% lower than a year ago. Resale inventory is 12% lower than last year. Supply in the region showed a little change over the last month. Supply for combined new and existing homes showed a 7.3 month's supply for May, compared to 8.0 in April. The existing home supply fell to 6.8 months from 7.5 in April, and the new homes supply dropped from 11.8 in April to 11.6 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
Copyright 2009. KCRAR is the "Voice for Real Estate in the Kansas City Area"
MARKET COMMENTARY FOR MAY 2009
MARKET STATISTICS FOR MAY 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.
JANUARY HOUSING MARKET STATISTICS
Home sales in the region were down 32% over last month and down 22 % from January 2008. Combined home prices decreased an average of 17% over last year.
New home sales saw a 33% decrease over last month with a similar 35% decrease over sales 1 year ago. Average prices of new homes rose 7% to $306,927 from $286,162 1 year ago.
Existing home sales were down in January 32% over last month and 22% from one year ago. Existing home prices is 21% lower than January 2008.
We continue to see inventories shrink in new homes, but existing properties inventory increased 3% over last month with a decline of 9% over January of 2008. With the down turn in sales, we saw new home inventories increase from 15.2 months all the way to 22.3 months in January, the highest amount in the last 12 months. Existing home inventories also increased in January to 13.2 months from 8.8 months last month. Clearly the buyer still has the edge.
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
Copyright 2009. KCRAR is the "Voice for Real Estate in the Kansas City Area"
MARKET COMMENTARY FOR JANUARY 2009
MARKET STATISTICS FOR JANUARY 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.com
Keller Williams Realty Bucks National Business Trends During the Toughest Real Estate Market on Record
Company celebrates 25 years as it outpaces market through its financial model
AUSTIN, TEXAS (January 27, 2009) - Bailout. Credit crunch. Foreclosure. Despite these words permeating the headlines and airwaves, there are companies out there moving forward - even in real estate. Keller Williams® Realty Inc., the fourth largest real estate company in North America, announced today that it outpaced the market in 2008, while remaining free of debt, and gave back more than $30 million in profits to its agents.
"Our strategy is no secret. We faithfully follow the sound financial model of leading with revenue - the same model our market centers follow," said Mark Willis, CEO of Keller Williams Realty Inc. "As we watch companies throughout the country take on billions of dollars of debt, we are proud to say that our company has not one dollar of financing debt and we remain strong and financially sound. It is our joy to be able to give back to our agents during these times."
Despite pervasive downward trends in the real estate industry, Keller Williams Realty continues to outperform the industry. For the first 11 months of 2008, existing home sales for the United States fell 17 percent when compared to the same period the year before. By comparison, Keller Williams Realty is poised to outdo those numbers by 10 percentage points, and in addition, the company experienced a much smaller contraction in its agent base compared to the National Association of REALTORS®, who saw a 10 percent decline in membership.
"Keller Williams was founded 25 years ago during one of the toughest markets on record - when interest rates were higher than 18 percent. We continue to urge our agents to zero in on lead generation and reducing expenses so they can thrive during this market," said Mary Tennant, president and COO of Keller Williams Realty Inc. "We admire our agents' spirit, tenacity, and dedication to their businesses. They just keep powering forward."
Throughout 2008 Keller Williams Realty launched new products and services specifically to boost its agents' businesses, including two new books: Your First Home: The Proven Path to Home Ownership for first-time home buyers, and SHIFT: How Top Real Estate Agents Tackle Tough Times. Both books are written by Gary Keller, co-founder and chairman of the board of Keller Williams Realty, who also authored national best sellers The Millionaire Real Estate Agent and The Millionaire Real Estate Investor.
Additionally, Keller, co-author Dave Jenks and trainer and coach Tony DiCello hit the road to teach the 12 tactics laid out in SHIFT, drawing more than 20,000 attendees in 29 cities. The company also continued to provide agents support through Operation Heart to Heart 2, a training initiative designed to help agents and market centers deal with today's market.
About Keller Williams Realty Inc.:
Founded in 1983, Keller Williams Realty Inc. is the fourth-largest real estate franchise operation in North America, with more than 690 offices and 70,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).
Should you have any questions regarding this article or Keller Williams, please contact Ron Mowery, Real Estate Professional with Keller Williams Realty Partners in Overland Park, Kansas at (913) 269-0479 or by email at Ron@JoCoHomesOnline.com or visit his website at JoCoHomesOnline.com
DECEMBER HOUSING MARKET STATISTICS
Home sales in the region were up 18% over last month but down 5% from December of 2007. Combined home prices decreased an average of 14% over last year.
New home sales saw a 30% increase over last month, but a whopping 39% decrease over sales 1 year ago. Average prices stayed mostly steady with only a 1% decrease from last December.
Existing home sales were up in December 17% over last month and actually were up 3% over the same time last year. Prices fell 11% over the previous year.
We continue to see inventories shrink in both new and existing properties. With the up tick in sales, we saw our months of supply drop from 11.2 months, all the way down to 8.8 months. New homes were still high with 15.2 months while existing home inventories were down to 8.8 months.
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
Copyright 2008. KCRAR is the "Voice for Real Estate in the Kansas City Area"
MARKET COMMENTARY FOR DECEMBER 2008
MARKET STATISTICS FOR DECEMBER 2008
Should you want market statistics for your neighborhood, contact Ron Mowery Real Estate Professional at (913) 269-0479 or email him at Ron@JoCoHomesOnline.com
JULY HOUSING MARKET STATISTICS
New Home Sales were down 40% from 1 year ago, and down 6% over the past month. However, the average price is 2% higher. New homes represent approximately 13% of overall home sales in the KC metro area.
Existing Home Sales were down 4% from 1 year ago, but up 3% from last month. Average Prices were lower by 8% from one year ago.
New Home inventory decreased slightly this month with 3,766 homes in inventory compared to 3,910 new homes on the market last month. The good news is the new home inventory for the region is 24% lower than it was a year ago at this time when there were 4,937 new homes on the market. Existing home inventory is down 1% from a month ago and 4% from a year ago. New and existing home inventories are down 8% over past year.
Supply in the Region has been steadily decreasing since January. Supply for combined new and existing homes decreased from an 7.4 months supply last month to 7.1 months supply this month. The existing home supply also decreased from 6.8 months in June to 6.5 months in July; and the new homes supply increased over the past month from 11.5 months of supply in June to 11.8 months supply in July. Even though there were small changes, we are still experiencing a buyer's edge in both the new home market and in the existing home market.
Generally speaking, a 5-6 month supply of homes on the market equates to a "balanced" market. When the 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
©Copyright 2008. KCRAR is the "Voice for Real Estate in the Kansas City Area"
MARKET COMMENTARY FOR JULY 2008
MARKET STATISTICS FOR JULY 2008
Should you want market statistics for your neighborhood contact Ron Mowery (913) 269-0479 or Ron@JoCoHomesOnline.com
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Real Estate Professional servicing Overland Park, Leawood, Olathe, Lenexa, Shawnee and other Johnson County Kansas cities.
Prior to becoming a REALTOR® in 2001, Ron was a mortgage professional in Omaha and Kansas City for 16 years. During that time he assisted over 1,700 people with the financing of their homes.
"Ninety eight percent of homebuyers finance their home. I feel I have a huge competitive advantage in assisting buyers and sellers with not only putting the transaction together but keeping it together."
Born in Orange County, CA and raised in Auburn, NE he went to college at the University of Nebraska. After working in Omaha for 10 years, he was transferred to Kansas City as the National Sales Manager for a regional mortgage company. "I understand what it's like to move. I will do my best to see that every detail is taken care of so that your move can be hassle free".
When you work with Ron Mowery you can be certain that you're in good hands. Drawing from over 20 years in the real estate and mortgage business, he can offer you guidance and advice along the way to make sure you get the most out of your real estate investment dollar.
Whether you are buying or selling, Ron Mowery is here to look out for your best interests. You deserve to work with an agent who is fully involved and fully committed to your success.
"Life is more rewarding when you become fully committed to pursue your true passions. This is the approach I take to helping my clients reach their goals."
As a full-time real estate professional, I take my fiduciary responsibility to represent my clients very seriously. In order for me to represent buyers and sellers, it is imperative that I be "tuned in" to what is going on in the communities in which I work. Unfortunately about 5 years ago, I learned this the hard way. After representing a client on the purchase of a new construction home approximately 30 miles from my office, he called me to sell his home about 3 years after purchasing. I eagerly went up and did some research while preparing my Comprehensive Market Analysis (CMA). Shockingly, during a time of high value increases, his home was not going to be worth much more than what he paid for it. Luckily he was able to sell it and realize just a few thousand dollars profit. But from then on, I realized I didn't do him a favor by representing him and that in retrospect, he would have been better represented by someone in this location. From that day on, I vowed to represent buyers and sellers "only" in the area where I am knowledgeable. To continue to support my clients who move to different parts of the metro, I created partnerships with like minded individuals who felt the same way I do.
Now, I only represent home buyers and home sellers in Overland Park, Leawood, Lenexa, Olathe, Shawnee and surrounding cities in Johnson County, Kansas.
Do you have any good testimonials that clients have provided you in the past? Be sure to add them here.
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