The recent numbers out from KCRAR show that housing inventory in the Kansas City market is Down 21% in June 2015 from June 2104. Prices are up and it is a seller’s market. Add this to the recent report from Fannie Mae that Consumer Attitudes on Housing May Signal Healthier Purchase Market Ahead.
Americans’ outlook toward the current home selling market and the future of home rental prices may bode well for purchase activity this year, according to results from Fannie Mae’s June 2015 National Housing Survey™. Amid continued strong job and income growth, consumers are looking more favorably on the current selling climate, perhaps portending an uptick in the existing home supply. Among those surveyed, the share who believe now is a good time to sell a home reached a new survey high, increasing three percentage points to 52 percent and crossing the 50-percent threshold for the first time in the survey’s history. At the same time, the share who said they expect home rental prices to go up in the next 12 months rose four percentage points to 59 percent, also an all-time survey high. With an increase in housing supply from those ready to sell, combined with higher rental cost expectations, more potential homebuyers may be encouraged to leave the sidelines.