Housing Inventory In Kansas Remains Low
For the month of July inventory remained low, hampering the number of homes sold. Options for buyers are limited. While the average sale price is down from June 2019 ($237,350), prices are up from July 2018 ($214,711).
The number of days homes are on the market has remained steady at 48 days, only one day less than a year ago.
Mortgage rates continue to fall. Freddie Mac reported the national average commitment rate on a 30-year conventional fixed-rate mortgage was 3.6% down from 3.85% in June. This .25% decrease could have significant impact on the amount of interest paid over the lifetime of the loan.