Kansas Housing Market Stats – May 2020

“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.

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