According to Mauricio Umansky, CEO of The Agency, a billion dollar real estate company, 2025 will mark the resurgence in home listings after years of stagnation. Low interest rates driven by the pandemic had caused a very low inventory, which in turn increased sales prices at a very rapid rate over the last three years.
With inventory already climbing from January to November 2024 compared to the same period the previous year coupled with a complete election cycle, these factors are expected to drive a lot more people back into the market. The Kansas Housing Market Forecast still anticipates an overall increase of pricing by 7.7% in the coming year..
Bottom line…Sellers in 2025 have been advised to “listen to the market” and ensure they are priced correctly to avoid longer days on market now that the inventory is expected to rise. While asking prices may not decrease, the difference between the bid and the asking price is narrowing which will make a much more even playing field for Buyers and Sellers in 2025.
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