Chris Lester’s column in the Kansas City Star today has a good analysis of the local real estate situation. Most of the news on real estate we tend to hear provides national statistics, and those are not always relevant to our local market conditions. Basically Lester is saying that Kansas City is a buyer’s market, and that while our real estate market is not as volatile as the national statistics, we are experiencing a market correction from the boom we had a couple years past.
I like this article because is a very reasonable and factual analysis of the current market. And while it is slow and prices are dropping from the levels of the past couple of years , it is still very strong historically. Also, rates are still at all time lows – the other day I saw 30 year conventional with 10% down-payment that had an interest rate below 6%.