KC Area sees home sales decline slightly, but prices rise

Sales of new and existing homes was down 1% from July 2013.Β  Existing home sales fell 1% but new home sales were up 2% from 1 year ago.Β  The average sale price for new and existing homes was up 4% from 1 year ago.Β  The existing and new homes supply of homes is at 5.3 months.Β  A 5 to 6 month supply of homes is generally represents a balanced market