“New contracts for sale rebounded in May following sharp declines in April,” said KAR president, Marsha McConnell with Plaza Astle Realty in Hutchinson. “New listings, however, continue to lag. As a result, the months’ supply of homes available for sale is the lowest ever recorded.”
May 2020 Market Highlights
- Home sales in Kansas fell by 25.1% percent in May 2020 compared to the same period last year. National sales fell with sales falling 26.6% over 2019.
- Home prices continue to increase across the state. The statewide average sale price in May was $223,912 a 2.4% increase compared to last year. Midwest prices rose 3.0% and US prices rose 2.3%.
- Mortgage rates are going down. The national average commitment rate on 30-year conventional mortgage for the week ending June 19, 2020 was 3.13%. 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.
