• April 2020 average sales price for new & existing homes combined ($258,213) is 4.1 percent higher than April 2019.

• There were 3,130 home sales (new & existing combined) for April 2020, which is 6.8 percent lower than last April (3,357).

• Home inventory (new & existing combined) for April 2020 (5,834) is 30.2 percent lower compared to April 2019 (8,361).

• The supply of new and existing homes for April 2020 is currently 1.7 months.

Recent market data for the Kansas City region has provided initial insights on the impact of COVID-19 on local real estate activity. The April 2020 market reports from the Kansas City Regional Association of REALTORS® highlight some bright spots for the Kansas City real estate market.

If you haven’t been in renegotiation yet, you will be before the COVID-19 pandemic is over. The Black Swan Method™ was born out of crisis negotiations. Here are four steps (with specific dialogue) for how to deal with everything that’s being renegotiated in the midst of this economic crisis.

All, I wanted to share an update with you this week that is more geared around what is the path to getting back to a new normal, and what your clients may be faced with along the way.

1. Morgan Stanley put out a great chart (attached) that outlines a prediction on recovery timing. I thought this was extremely insightful.

2. Many industries will continue to be impacted until/unless a vaccine or treatment is available to the masses. I have also attached a Yardi report on jobs related to many cities across the US in some of these sectors. These industries may include:

The 2020 North America Multifamily Investment Forecast by Marcus and Millichap is chalked-full of great information. We may be biased, but one of the pieces of content that jumped out at us was that Kansas City has a positive net migration. Another point in a long list of why we love KC and love helping investors create great results in this city!

Originally founded in 1838, Kansas City, MO straddles the border between Missouri and Kansas at the confluence of the Kansas and Missouri Rivers. The region covers roughly 9,193 square miles (about the size of New Jersey), with its 2.5 million residents residing in 18 different counties in Kansas and Missouri. With its rich history of jazz music, its signature barbecue scene, as well as a thriving job market, KC is a vibrant cultural crossroads that offers ample opportunity to capitalize on low cost of living and affordable real estate. These are but a few of the many reasons that KC is one of the best cities to live, work and invest in.

According to the latest Yardi Matrix, rents increased 3.2% in February on a year-over-year basis, matching January’s growth rate, as demand for multifamily has yet to feel any major impacts from the Coronavirus outbreak. However, they caution that the Coronavirus is likely to cause a technical recession. Indeed...

The Coronavirus (Covid-19) is dominating the headlines, news, and in many cases the fears and concerns of many! Congress has passed two bills addressing various aspects of the impact of Covid-19. The first was an $8 billion plan to reinforce Health Care organizations and ensure funds were available for necessary logistics. The second passed just days ago, referred to as Phase II, implemented new tax credit programs for family and medical leave for small businesses, among other things.