THE INDEXKC- INDEPENDENCE MARKET UPDATE
Weekly KC Metro Market Update
Inependence is behaving as a benchmark for the balance of the metro with regard to the percentage of homes with price reductions equaling almost 50% of listed volume for the past week, and price reductions almost 1/3 of listed volume.
Expect those ratios to be reflected in the rest of the metro in the next few weeks.
Check out the number of price reductions and the watch the days on market continue to extend as the market shifts….The shift is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!