Let’s nerd out on some Platte County real estate. The real estate market is quickly pumping the brakes around here. Listings are moving upward, and houses are sitting on the market longer. It’s starting to look like 2017-18 around here. COVID was like a shot of speed to real estate, and it has never gotten un high. Each spring, we would see a little of this and then the market would burst out to new highs.
This year looks a little different. Remember 2024 was ok, but nothing great and now 2025 is starting off worse than 2024 by many metrics. The number of total residential sales is down 11%. Median sales price is down 2%. Days on market for listings are up 6%. Pending sales are down 1%. Here is the kicker, supply for April in Platte County is 33% higher than 2024 and up 8% for the year.
Often, weather or school calendars can impact April or May numbers, but if this does not turn the corner in June and July, it seems inevitable that the housing bull market run will be officially over.
When you get bored someday, look up FHA loss mitigation loans. The government has been paying tens of thousands of mortgages for borrowers that have not made payments on the first loan they took out. It’s not technically government money as the funds are from loan servicing, but it remains a huge reason that housing has been so propped up and reduced inventory throughout the country. The government has spent the last four years, at least, preventing homes from entering foreclosure or pre-foreclosure by issuing add on loans to borrowers in the name of “mitigation.” That is market manipulation and usually does not end well. Stay tuned.
Honestly, I hope you don’t get that bored. That would be sad.
Speaking of school calendars, one local school district is having work from home day the last day of school this year. Students are out, but as some sort of compliance with state or federal law, the district has to have staff work after the students are gone and they have declared it work from home day. What lunacy. Public education is broken.
Is it just me or does there seem to be an arms race going on between Smithville, Kearney, and Platte City areas on who can build the biggest roundabouts. Kearney took the lead recently with some sort of roundabout intersection access to Interstate 35 that includes an interstate crossover that would make the Rubik’s Cube blush.
Platte City looks to regain the lead as part of the Hwy. 92 widening project, where the “roundabout” locations are still not being disclosed, but for the sake of geographical ego, are most certainly in the works, big and beautiful it most assuredly will be.
We had roundabouts when I was a kid. They were called rolling four way stops. Then some European engineer got involved and here is where we are, right in the middle of a huge roundabout arms race.
Maybe more roundabouts would fix public education. I’m not sure if they make kids walk in single file lines anymore but it might be an innovative idea to have some pedestrian roundabouts built and make them walk through those on their way to lunch and counselor’s office. Won’t help with reading comprehension but might help critical thinking skills. I’m an idea guy, feel free to implement.
(Guy Speckman can be reached driving through roundabouts)
