Kansas City Real Estate Market Trends for 2022

The Kansas City real estate market is constantly changing and evolving. If you're thinking of buying a home in the near future, it's important to stay up-to-date on the latest market trends. Here's a look at what experts are predicting for the Kansas City real estate market in 2022.

Rising Home Prices

One of the most significant trends experts are predicting for the Kansas City real estate market in 2022 is rising home prices. According to Zillow, the median home value in Kansas City is currently $188,200. However, by 2022, Zillow predicts that median home values will reach $211,600—an increase of nearly 12%.

Low Mortgage Rates

Another trend that's expected to continue into 2022 is low mortgage rates. Mortgage rates are currently at historic lows, and there's no indication that they will rise significantly in the near future. This is good news for buyers, as it means they'll be able to lock in low-interest rates on their mortgages.

Increased Demand for Homes

The combination of rising home prices and low mortgage rates is expected to lead to increased demand for homes and lively investments in Kansas City, MO. This increased demand could lead to more competitive bidding wars and higher prices for buyers who are looking to purchase a home in the near future.

Conclusion:

If you're thinking of buying a home in Kansas City, it's important to stay up-to-date on the latest market trends. Experts are predicting that home prices will continue to rise in 2022, so if you're planning on buying, it may be beneficial to do so sooner rather than later.

Additionally, mortgage rates are expected to stay low, making now a great time to buy a home while interest rates are still favorable. Lastly, increased demand for homes is expected due to the combination of rising home prices and low mortgage rates, so competition among buyers may be high. Keep these trends in mind as you navigate the Kansas City real estate market in 2022!