Does It Make Sense To Buy a Home Right Now?

Many potential Kansas City homebuyers are asking the question, "Should I buy now or wait?" While no one can decide for you, knowing the state of the current housing market can help clarify this significant decision. The Just Say Home KC team can help you understand more about the real estate expert projections below and what they mean for the Kansas City area:

The Future of Home Prices

Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES) each quarter. This survey polls over 100 experts—economists, real estate professionals, and investment and market strategists—for their national home price predictions.

The most recent survey shows that housing market experts believe home prices will continue to increase over the next five years (see graph below):

 

What does all of the green on this chart mean? Experts are not expecting home price declines. Across the country, you can expect a 3-4% rise each year.

Even though Kansas City home prices aren't expected to climb as much in 2025 as 2024, keep in mind these increases can add up over time. If current home price predictions are correct, your home's value could go up by 3.78% this year. The next year, it would increase by another 3.36%, and another 3.87% the year after that!

What Does This Mean for Kansas City Buyers?

Knowing that home prices are forecasted to rise steadily should boost your confidence about buying a home in the Kansas City area. Why? Your home is an asset that's projected to grow in value in the years ahead.

Still not convinced? Let's look at another set of data. Using expert projections from the HPES, these numbers show how a typical home's value could change over the next few years. Check out the graph below:

In this example, imagine you purchased a home for $400,000 at the beginning of this year. According to these projections, you could gain over $83,000 in household wealth over the next five years as your home value grows.

Waiting is always an option, but it comes with risk. As Kansas City home prices continue to rise, the delay could increase the cost of your dream home. 

Bottom Line

Are you thinking it's time to become a Kansas City homeowner? For potential homebuyers who are ready and able to do so, buying a home in the current KC housing market makes sense. National real estate experts predict an increase in home prices, meaning your home will increase in value over the next few years. Team up with the Just Say Home KC real estate agents today to find your dream home and start earning equity!

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