The market is currently shifting from pandemic highs in volume and sales price increases, but central Missouri seems to be staying the course as sales continue to stay strong. Our market still needs more homes to sell! And as a buyer, you may have a shot at finding a home with fewer competitors.
Year over year (YOY), the total number of homes sold in central Missouri is up 8% with the current total inventory of 1.3 months of supply. Nationally, YOY home sales are down 8.6% with a 2.6 month supply of homes for sale. In comparison, buyers in 2019 had an average effective loan interest rate of 4.29% and a 4.2 month supply of homes to choose from, which drove the sale of 5.34 million existing homes. Through May of 2022, 5.41 million existing home sales have closed after a peak of 6.21 million sales in 2021.
Source – National association of Realtors, June 2022 : Columbia Board of Realtors, June 2022