THE INDEXKC- KANSAS CITY METRO MARKET UPDATE

2/21/2023

Weekly Market Update

Homes listed increased last week 5%, as inventories continue to climb with the help of rising mortgage interest rate. Homes coming back to market after inspections and increasing price reductions are also helping inventories rise.

The net effect is increasing days on market.

Yes inventories are increasing while average list and sales values are increasing! And crazier still is the increase in multiple offers driven by strong buyer demand in the face of higher mortgage rates.

The not so simple driver is the increase in inventory options are encouraging buyers!

Buy the home at the current, higher mortgage rate…then refinance as rates fall. This isn’t a new strategy; this is the strategy employed throughout most of the past 50 years.

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!