Kansas City home values
Home prices grew by 3.5 percent year-over-year in October and are expected to rise by 5.4 percent by the same time next year, according to a CoreLogic Home Price Index and Forecast report. Between September and October 2019, home prices grew by 0.5 percent.

Nationwide, home values have been growing steadily since 2012 and the recovery period that followed the recession. February 2016 saw peak year-over-year growth at 4.2 percent. But now, CoreLogic’s economists predict new peaks for the coming year.

While low mortgage rates and a strong job market increase Americans’ homebuying ability and therefore competition for homes, some parts of the country are not reaping in the prosperity at equal rates. Thirty-five of the country’s 100 largest cities currently have an overvalued housing market while the Northeast division comprising New York, New Jersey and White Plains saw housing values fall by 1 percent over the last year.

“Local home-price growth can deviate widely from the change in our U.S. index,” said Dr. Frank Nothaft, chief economist at CoreLogic. “While we saw prices up 3.5 percent nationally last year, home prices also declined in 22 metropolitan areas. Price softness occurred in some high-cost urban areas and in metros with weak employment growth during the past year.” That said, the numbers show that the overall American housing market is looking fairly strong — and buyer sentiment is also changing to reflect its current conditions.

Questions? Contact Primary Lender Today!

What's Your Property Worth?

Find Out Now!
X

Get in Touch

(816) 306-0785 1600 Genessee St, Ste 834
Kansas City, Missouri 64102 NMLS# 7755
  • Zillow
X Primary Lender

If you have any immediate questions or concerns don't hesitate to give us a call @ (816) 306-0785

0%

I agree to the following terms & conditions

I hereby certify that the information given in my submission is complete and correct and is given for the purpose of potentially obtaining a mortgage loan and/or financial services applied for.