Recent News and Trends in Kansas and Missouri Real Estate

real estate agent working

Jay & Daniel, owners of Royal Investment Properties, are native to Kansas City and spend a lot of their time understanding the status of real estate in MO & KS.

We have recognized a few trends recently in both Kansas and Missouri Land, due to recent changes in our economy.

It can be a lot to keep track of… from events in Topeka and Jefferson City to local sales trends.

Fortunately, Royal Investment Properties is on top of everything, and we understand how it affects Kansas and Missouri real estate market and other states!

Here are some of the latest trends we’ve seen:

Pandemic Shifts in Land Ownership

For a host of reasons, we’ve seen a migration of people from Kansas City, St. Louis and bigger cities to rural areas since the pandemic started. It might be because they can work more remotely more often, or they don’t to be around as many people, or they’ve had an epiphany about the life they want to live, or something else. But demand has risen for land in smaller towns and rural areas, contributing to a major rise in prices over the last couple of years. Typically land increases in value about 2-3% each year; we’ve seen value growth rates as high as 15-20% in the last couple of years.

Interest Rates are Rising

The Federal Reserve, in response to inflation and rising consumer costs, has raised its benchmark rates several times in recent months. As a result, banks are doing the same to people looking for money for mortgages and loans. As rates rise, and the cost of debt goes up, it costs people more to purchase the same land assets – they can’t buy as much for their money as they could before.

Prices are Leveling, and Even Dropping

Inflation has made everything from fertilizer to fuel more expensive, driving up the costs of owning and maintaining property. Land value and interest rate hikes are also lowering prospective landowners’ buying power. As a result, list and purchase prices for land are starting to level off and drop.

Daniel, Jay and the entire team have lived and worked in Kansas and Missouri all their lives. They know the land, the latest news, and trends that influence it, so they can best help you through your selling process. It’s all part of their mission to help you get the best deal you can.

Royal Investment Properties buys raw land and then optimizes its value and usability. The company uses its significant experience and expertise to solve property owners’ real estate challenges and simplify the selling process. Contact Daniel Earhart and Jay Thomason at 816-439-8156.

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