This year we're expecting a lot of millennial buyers to enter the market. It has been projected that 46% of all home buyers in 2015 will be first-time buyers. This is great news for our market in Kansas City, and we're expecting a surge of activity from this demographic.
Other good news is that down payments have become more affordable with new loan products from Fannie Mae and Freddie Mac that only require a 3% down payment. USDA and VA loans are also very affordable options if you can qualify for them. We can refer you to really great loan officers to find you the best possible deal.
We're also seeing a much more balanced market in Kansas City than in the last 5-7 years. The market has heavily favored buyers in the last few years, but we're seeing some change now. In some of the upper price points the market still favors buyers, but overall we're seeing a neutral market in the Kansas City area.
If you're serious about entering the market to purchase a home, be sure to contact our team and we can analyze the market and show you the absorption rates for the homes that you would like to buy.
We would love to serve you! Contact us today if you're interested in buying a home!