After The Recession, What The Housing Market In KC Looks Like | KCUR

After The Recession, What The Housing Market In KC Looks Like

May 23, 2013

The latest report from the Kansas City Regional Association of Realtors suggests that the average sales price of an existing home is up 15 percent from a year ago, and the average sales price of a new home is up about 16 percent from December 2011.  On the other hand 4% of homes currently on the market are in foreclosure.  As the housing market begins to recover from the Recession, those buying and selling houses are facing different issues. Mary Hutchison, a Kansas City relator and Mike Cash, Senior Loan Officer at a1 Mortgage talk about this shift on this Central Standard. 

For those looking to sell a home, Hutchison said investing in updates around the house is one of the best decisions you can make. She said that so many people watch home design TV shows nowadays that everyone looking to buy a home expect excellent curb appeal and updated appliances. 

"It doesn't matter what market you're in, you should always make your home look HGTV ready," Hutchison said. 

And for those looking to buy a home, it's a good time in Kansas City to make that investment if you're looking to keep it in the long run because FHA loans only require 3.5% down for first time home buyers.