THE INDEXKC- JACKSON COUNTY MARKET UPDATE
Weekly KC Metro Market Update
Jackson County sales remain strong and consistent, as do the average sales value and homes sold. Homes listed is rising slightly, a message right in line with rising interest rates and here’s the connection. Rising rates signal a lessening of demand across most price ranges, as the average days on market will increase, and average sales values will dcrease. Hey demand lessens as the cost of money, (read as rising mortgage interest rates), impacts rising monthly mortgage payments.
The factor to watch will be an increased number of Jackson County rental units hit the market….The units leased using Section 8 will be especially prized. (Interested in investing, let’s have a conversation.)
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!