THE INDEXKC- KC METRO MARKET UPDATE
Weekly KC Metro Market Update
Bob turns to Cindy over coffee this morning…’This housing market is hard to understand; to we wait for lower rates and more competition, or do we purchase now.”
Their Realtor tells them…”With all of the doom and gloom afoot….high mortgage rates, longer days on market, fewer homes selling….It’s a good time to remember a balanced market has advantages for both buyers and sellers.”
Fewer multiple offers doesn’t hurt Sellers. Look at the stats below, average sales value is rising week by week.
Homes listed and homes sold numbers are dropping, BUT, this is ahead of mortgage rates dropping a full half point this past week. Expect these number to rise as we continue toward the end of the year.
How do mortgage rates fall while Fed rates rise? The influence of 10 year Treasury Bonds; the yield of these bonds continue to climb during Fed rate hikes, in turn, these force mortgage rates downward.
Cindy tells Bob, “We’re headed to the first listing this aftermoom! Let’s find our dreamhome.”
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers! Click the button below and let’s get you the information you need to be successful!