Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets.
Kansas City, Missouri
“This is sick, and I want it to end,” said Sharon Aubuchon, a RE/MAX Premier Realty agent in Prairie Village, Kansas a suburb of Kansas City. “It is like ten kids fighting over one ice cream cone. One kid will give $4 instead of $1. One kid will give their parent’s car.” Aubuchon says buyers are making too many concessions. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.” Besides a high-demand, low-inventory market, Aubuchon must contend with a new competitor on the block. New York City-based Compass recently recruited 24 agents in the Kansas City area including Kristin Malfer, who is a former top performer at Reece Nichols. Of the homes that are on the market, Aubuchon said, many are adorned with front-yard signs reading “Compass.”
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