“Home prices continue to rise at a steady clip,” says KAR president, Kathy Minden with Crown Realty in Paola. “Tight inventories are forcing buyers to make very competitive offers for the homes that are available.”
May 2018 Market Highlights
- Home sales in Kansas fell 2.4% compared to the same period last year. National sales also declined 3.0% over 2017.
- Home prices continue an upward trend in the state, region and nation. The statewide average sale price in May was $212,783 a 3.8% increase over last year. Midwest prices rose 4.2% and US prices rose 4.9%.
- Mortgage rates are back on the rise. The national average commitment rate on 30-year conventional mortgage for the week ending June 14, 2018 was 4.6%. View Freddie Mac’s report.
To view April stats, click here.
For national perspective, click here to watch NAR’s new “Housing Minute” video update.
KAR – The Voice of Real Estate in Kansas
The Kansas Association of REALTORS® (KAR) provides members with market data to better serve clients and ensure they make decisions based on the most accurate information in the marketplace.
