THE INDEXKC- LIBERTY GLADSTONE AND KEARNEY MARKET UPDATE
Weekly KC Metro Market Update
All 3 of the bellweather cities in Clay County are generating significant market velocity; homes are selling faster and inventories are replenishing more slowly than the metro at large.
The net effect is a lot of homes on the market for less time than usual and yet sales prices are stable and holding. Rising mortgage rates tied to rising inflation are leaving less room in the budget for shelter. This forces home prices into a holding pattern as consumers can’t afford to raise their monthly homes payments.
While prices are stable, multiple offers driven by strong buyer demand in the face of higher mortgage rates are more of the rule in homes under $500,000.
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!
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