So why the jump in lumber? Really? I finally found a great article from NPR that sums it up pretty well. It comes down to a negative correlation between lumber mill shutdowns during the pandemic while simultaneously a demand for lumber going up. Though it is still up 80% compared to pre-pandemic, that is a lot better than 500%! Click the image to read the article.
When I mentioned the pendulum is beginning to swing the other way, but we have a long way to go? I give you the June 2021 housing numbers. This is the picture that the data paints for us. In KCMO, the inventory in March was .7, in May it was .8 and in June it is now .9. The average is 4-6 months. Be patient everyone. Things are heading in the right direction. Click on the image for a [...]
My husband and I dream about building our own house someday. We tinker around with what kinds of things we would include. Being in the real estate business, I get the chance to see many houses. I LOVE THAT! I get so many ideas of what to do and not do. For example, we are going to remodel our kitchen in the fall. When we add the island/bar area, I have learned that I don't want to break up [...]
Okay so I hesitate to even say anything out loud, but I am feeling (cautiously) optimistic. Why still so guarded? Because we have a LONG way to go. I have seen signs that things are starting to stall (a small increase in inventory, a small decrease in active buyers), but compared to the rest of the country KCMO has been hit much harder than most. Now there is news that the lumber prices are coming down, more buyers are [...]
Time to check in on the local 1st quarter housing market data. Watch this 2-minute video straight for the source, Heartland MLS.
The most asked question in the KCMO area on Google is, and has been, "Should I Refi or Should I Sell?" Watch this 12-minute video with the experts at Motto Mortgage to find out. To contact Motto Mortgage, call: Frank Lowe, Office Manager and Loan Officer at 816-622-8320 or email him at firstname.lastname@example.org.
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Being informed is like turning on a light in a dark room. So what can we expect from the housing market? If you are a buyer or a seller or have known someone in the housing market right now, you know it is CRAZY. I have spoken to some very seasoned agents who say they have never seen anything like this before. One way to begin to solve the problem and find a solution is to understand what is [...]