Lack of Starter Homes
Gray says the Kansas City market desperately lacks homes in the $200,000 range — a price point that’s especially attractive to first-time buyers.
“A home will list on Monday and by the end of the day, 20 people will have toured it, and the sellers will have received multiple offers. That’s huge demand,” Gray says. “A lot of people who in previous years may have found a starter home to their liking are stuck renting while they compete to find a home for purchase.”
Chart courtesy of LawnStarter Kansas City.