Demand for homes in the Kansas City area continues to outpace
supply, with the inventory of homes available for sale still well below the 4 to 6 months’ supply typically associated with a balanced market.
Nevertheless, buyers remain cautious in the face of higher home prices and financing costs and appear willing to pass on homes they deem overpriced or in less than perfect condition.
Although home price appreciation has slowed dramatically from the stunning rates posted in 2021 and 2022, it remains quite strong by historical standards. Given the tight supply conditions, we project that Kansas City home values will end the year up 6 percent in 2024 and then rise another 5.6 percent in 2025.
