Local market updates from the Kansas City Regional Association of Realtors (KCRAR) provide a closer look at the Kansas City metro area's current market conditions. Whether you're a buyer or seller, visit Better Homes and Gardens Real Estate Kansas City Homes' Better Living Blog each month to stay updated on the latest home sale trends.
Monthly Indicator Analysis from Kansas City Regional Association of Realtors (KCRAR)
The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.
The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.