“Home prices are rising rapidly in most parts of the state,” said KAR president, Kathy Minden with Crown Realty in Paola. “The lack of inventory continues to put pressure on buyers.”
July 2018 Market Highlights
- Home sales in Kansas rose 3.6% compared to the same period last year. National sales fell 1.5% over 2017.
- Home prices continue a rapid rise in most parts of Kansas. The statewide average sale price in May was $214,711 a 5.4% increase over last year. Midwest prices rose 2.5% and US prices rose 4.4%.
- Mortgage rates hit their lowest level since April. The national average commitment rate on 30-year conventional mortgage for the week ending August 23, 2018 was 4.51%. View Freddie Mac’s report.
For national perspective, click here to watch NAR’s new “Housing Minute” video update.