Home Sales Volume Down in Kansas City

The Kansas City area’s housing market suffered through lower sales volume and prices in September, the Kansas City Regional Association of Realtors reported Tuesday.

Sales of new and existing houses fell by 21 percent from August and 14 percent from the year-earlier month to 2,771, the association said. The average sale price decreased 1 percent in September from last year.

For sellers, this is less than ideal news. For buyers, however, it’s an indication that they should hone up on their negotiation techniques because good deals can easily be found.

More housing figures: New house sales dropped by 29 percent from September 2005 and 21 percent from August to 568. Existing house sales fell by 13 percent and 26 percent, respectively, to 2,203.

The largest increase in average new house sales prices came in Wyandotte County, which posted a 15 percent year-to-year increase. The county’s overall sales prices rose by 20 percent during this time.

Metropolitan Kansas City’s supply of unsold new and existing houses rose to 7.4 months in September from 5.8 months in August. With such an inventory, the time is ripe for consideration of which home mortgages would best suit your budget.

After all, a supply of greater than six months favors buyers. This is your chance to receive a reduced price on a great piece of property.