Looking at my trending data for the KC market, it appears as though the KC market is bottomed out and is showing signs of recovery.  Pending sales are on the rise, and the months of inventory have fallen almost 4.5 months from 12.7 in November to 8.2 months of inventory in April.

Some of this can be attributed to the seasonality as November and December are typically the slowest months of the year.  However, the inventory of homes for sale has dropped 15% from a year ago. This reduction in supply has the effect of propping up the prices of houses as the consumer has fewer homes to choose from.

While we are not completely out of the woods yet, I think the worst is behind us.  The market appears to be chugging along similar to the pre-boom days, which I would consider to be a ‘normal’ market.

If you have been holding off on selling because of the slow market. It may be time to consider making the move. Inventories are down and prices have stabilized. This is especially true if you have a home you are considering selling that would be classified as a ’starter; home. A full 50% of the buyers out there are first time home buyers looking to take advantage of the $8,000 tax credit. Sales of homes in the $100,000  to $150,000 range are actually UP compared to 15 months ago!

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