KANSAS CITY, Mo. — Maddie Ehlers was certain about one thing when she started looking for a house.
“I knew I’d be in the Kansas City area my whole life,” the Leawood, Kansas, native said. “I love this city. I think it’s a smaller city with a big city feel. And we have everything you need.”
The only thing it’s lacking is a big supply of homes for sale.
Ehlers spent about one year looking and had sellers reject multiple offers before she closed on a home in Overland Park, Kansas, about three weeks ago.
“I was tired of hearing, ‘You’re runner up, you’re runner up.’ It was time for me to get a home,” she said.
Ehlers isn’t the only homebuyer experiencing the effects of low inventory. First quarter data from the Kansas City Regional Association of Realtors (KCRAR) shows there are more realtors than homes for sale for only the second time in the organization’s history.
Because of low supply and high demand, prices are about 16%…