“Although inventories have risen somewhat in recent months, it will still be a sellers’ market as we enter the new year,” said KAR president Thomas Howe with McGrew Real Estate in Lawrence. “The inventory of homes available for sale at the end of December was 40 percent less than it was at the end of 2019, prior to the onset of the pandemic.”
December 2022 Market Highlights
- Home sales in Kansas fell by 32.1% in December 2022 compared to the same period last year. National sales fell with sales falling 34.0% over 2021.
- Home prices continue to increase across the state. The statewide average sale price in December was $281,622 a 5.1% increase compared to last year. Midwest prices rose 2.9% and US prices rose 2.3%.
- Mortgage rates increased. The national average commitment rate on 30-year conventional mortgage for the week ending January 20, 2023 was 6.15%. View Freddie Mac’s report.
To view November 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.
