Today we talk about what is going on with Housing Inventory across the country as well in the State of Missouri and right here in Clay County. The one obstacle we face as Realtors across the country and locally is lack of inventory availability. We're at a severe shortage across the country in the number of available homes for the number of people wanting them because the home has grown, the value of the home has grown over the pandemic. Interesting quote from Realtor.com "Since the beginning of Covid pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the US Housing inventory." As a result, home prices are accelerating at double last year's pace."
According to the Kansas City Association of Realtors and the Heartland MLS Closed Sales for September are up 12.5%, The Average Sales Price is up 11.3% to $264,359, the Days on Market is down -15%, Percentage of Original List Price Received is up 2.4% at 100.1%, inventory is down -60% from 885 homes in 2019 to 354 for sale in September 2020. Finally, the Supply of inventory is .8 months down 61.9% from last September.
