Kansas City Homebuilders Rise to Meet Housing Needs
May 6, 2021
It’s no secret the COVID-19 pandemic hit all areas of the Kansas City Metro hard, but things are looking up--especially in the home market!
The National Association of Realtors® (NAR) just released new data detailing the difference in sales among existing homes and new homes. Existing-home sales in March 2021 decreased 3.7% compared to February 2021, yet March 2021 existing-home sales increased 12.3% compared to March 2020. The NAR attributes this drop in sales to the low inventory of available homes and the beginning of the COVID-19 pandemic.
Although existing-home sales dropped, new-home sales increased. Homebuilders rose to meet national housing needs, as the NAR reports the number of new homes started, under construction, or completed increased to 1.74 million compared to March 2020 which sat at 1.62 million. In fact, new construction levels are gaining a steady increase after 13 years of undersupply.
We at Inspired Homes are doing our part to help meet the home needs for the Kansas City Metro area by planning and building new homes and communities every day. Check out some of our new homes, ready for you to move in!