Billie Bauer Network | Kansas City Housing Market Metrics & National Market Update - November 2024

November 2024 Local Market Report from the Kansas City Regional Association of REALTORS® and Heartland Multiple Listing Service. Market Highlights from the October data include:

October 2024 average sales price for new and existing homes combined ($356,254) is 3.5% higher than October 2023 ($344,060).

There were 3,119 home sales (new and existing combined) for October 2024, which is 7.0% higher than last October (2,916).

Home inventory (new and existing combined) for October 2024 (7,418) is 7.0% higher compared to October 2023 (6,930).

The supply of new and existing homes for October 2024 is currently 2.5 months.


Your Real Estate Market Update: Why Now is the Perfect Time to Move

The real estate market took a brief pause leading up to the election, but activity is now ramping up quickly. This shift creates an excellent opportunity to take advantage of the recent slowdown and start building equity.

Here’s why acting now is a smart move:

Interest Rates: Still below the historical average of 7.7% (NAR).

Inventory Growth: Homes for sale have increased by 27% compared to this time last year (Altos Research).

Inflation Stabilization: Inflation has dropped to 2.6%, down from 3.2% last year (U.S. Bureau of Labor Statistics).

Market Momentum: The Pending Home Sales Index is at its highest point since March 2024 (NAR).

Let’s discuss strategies to help you make the most of this market and find the perfect home for your needs.

Happy house hunting!

The Billie Bauer Network
"Our Family Guiding You Home in Kansas City"

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