I've just sold my house in Kansas City and I had to take a small loss. (I've owned five homes and this is the first one where I didn't make at least a small amount.) Others have asked me how the real estate market is in Kansas City. Generally, the economy there is pretty good. A couple of years ago (when I bought) the prices were holding up well. Now, they're following the national trend downward.
New home prices are holding up well but recent numbers show the volume of new home construction has almost collapsed. From this I conclude that those who are still building new homes are affluent and price is less of a factor in the purchase decision.
So okay - lesson learned.
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