More Positive News for New Home Sales
Another positive month for new home sales, with an increase of 31% over last month and 23% over the same month last year! Local sales prices in that same period increased an average of 3% yielding an average resale price of $167,487 which is 6% higher than May. Interest rates still remain historically low. All of this is positive news for KC!
With the buyer incentive ending on April 30th, Coldwell Banker is betting that a Buyer Incentive that they are offering in select homes that mirrors the Federal Program – minus the first time buyer requirements – will continue to drive existing homes sales – coldwellbanker.com/buyerbonus.
Finally, please note – June represents the 4 month in a row of increased average sales price, which may signal the bottom has passed and by all indicators (sales and prices up) we may well be on the way to a balanced market this summer-www.kcrar.com.
John Moffitt Jr.
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