Here is the coronavirus shutdown edition of the Real Estate Market Update for May of 2020 from KCRAR/HMLS. The numbers show a drastic 43.4% decrease in the number of closed sales, yet prices were up year over year. We had several customers whose transactions were delayed due to financing changes or military orders being postponed and, of course, many were hesitant to buy or sell once the pandemic was declared.
It seems now in June in our local market that demand has mostly recovered, while inventory remains low, continuing a strong sellers' market.
If you have questions about the real estate market or buying or selling a home, please contact one of our real estate professionals.