Because inventory is low, homes sell above their list price and market value. Carlson said the price buyers will pay for a home is exceeding what appraisers call the appraised value. If you're looking to make a profit, you don't want to buy the most expensive property in the Kansas City housing market and expect to make a good profit on rents. The Kansas City housing market is very hot and, in many ways, the envy of housing experts on both coasts.
Newcomers to Kansas often report feeling overwhelmed by that much-talked about Kansas kindness. According to a March study by First American Financial, Kansas City, Missouri, was one of the top five housing markets that experienced the largest year-on-year decline in affordability. But in Kansas City, there's only about a month supply of homes available for sale, which is an indicator that Kansas City is a strong seller housing market. A low supply of home inventory may also be helping to boost demand for single-family rentals in Kansas City, as recently reported by the Kansas City Regional Association of Realtors (KCRAR).
We can help you succeed by minimizing risk and maximizing the return on your Kansas City investment property. Kansas City is home to some of the largest companies, such as H&R Block, Sprint, Hallmark and BNSF, to help drive the attraction of Kansas City's real estate market. Located on the Missouri River at the confluence with the Kansas River, the city is adjacent to Kansas City, Kansas. The Kansas City MSA index covers the entire fifteen-county Kansas City metropolitan area, covering both Kansas and Missouri.
Kansas City Housing Costs Are Very Affordable The main reason Kansas City is so affordable is attributable to one thing; house prices. Kansas is a very cheap state because the cost of living is low, the median income is high, and because houses are cheap.