An inventory-starved housing market in Kansas City is leading to desperation among some buyers, causing some to skip home inspections so deals don’t fall through and leading others to put down offers on homes sight unseen so they don’t miss out.
Nationwide, the country is seeing the biggest housing inventory crunch in 20 years, according to data gathered by Trulia, a real estate listing site. The data tracks housing inventory in the top 100 metro areas across the country.
There are 5 percent fewer homes on the market nationwide than a year ago. In Kansas City, the figure is nearly 14 percent.
The biggest decrease in Kansas City inventory was for midrange homes, which saw a 70 percent decrease in inventory over the last six years.
While March, April and May in a normal housing market is often the busiest time in residential real estate, realtors say that market activity the last two years has made it a frustrating spring.
Read more: Kansas City Star