“The lack of listings continues to affect the market,” said KAR president Thomas Howe with McGrew Real Estate in Lawrence. “The number of newly-listed homes in May was 20 percent lower than it was last year.”
May 2023 Market Highlights
- Home sales in Kansas fell by 12.8% in May 2023 compared to the same period last year. National sales fell with sales falling 20.4% over 2022.
- Home prices continue to increase across the state. The statewide average sale price in May was $313,950 a 5.0% increase compared to last year. Midwest prices rose 1.1% and US prices fell 3.1%.
- Mortgage rates increased. The national average commitment rate on 30-year conventional mortgage for the week ending June 16, 2023 was 6.67%. 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
For 100 years, the Kansas Association of REALTORS® has been the “Voice for Real Estate” in Kansas. Working for Kansas property owners, the Association provides a facility for professional education, research and information exchange among its 10,000 member licensees, as well as to consumers, government and the media. REALTORS® agree to abide by a strict code of ethics, and are held to a high ethical standard by their peers through their association membership. The term REALTOR® is a federally-registered trademark owned by the NATIONAL ASSOCIATION OF REALTORS®, and denotes membership in the non-profit Association.
