The American economic bubble is just about to burst and cowtown housing is leading the downward spiral according to a recent report.
Check the money line . . .
A new report from researchers at Florida Atlantic University's College of Business identifies Kansas City, Missouri, as one of the most overpriced housing markets in the country. Currently, the average home in the area is selling for about $261,238, according to estimates from real estate data company Zillow. This is well above the average predicted price buyers should be paying of $206,412 - an estimate based on calculations using historical sales data.
The 26.6% premium home buyers are paying on the average house sold in Kansas City ranks as the 44th highest of the 100 metro areas covered in the report.
Read more via www.TonysKansasCity.com link . . .
Kansas City, MO is One of the Most Overpriced Housing Markets in America
Demand for housing has risen sharply in 2021, and that has affected prices. According to the carefully followed S&P CoreLogic Case-Shiller Indices, home prices nationwide rose 19.1% in October, compared to the same month last year. In several markets, the figure was over 25%.
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