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Housing Market Update: Listings Tick Up, But Buyers Back Off
- New listings have inched up this fall, giving the buyers who remain in the market a few more homes to choose from.
- Many buyers are retreating as mortgage rates stay elevated.
- Redfin Real Estate News reports on the current state of the housing market.
What Does This Mean for Homebuyers and Sellers?
For Buyers:
- It’s a good time to keep an eye on the homes for sale as new listings become available.
- However, be prepared for potentially higher mortgage rates.
For Sellers:
- With more homes on the market, it’s important to work with a knowledgeable Realtor to make your home stand out.
- Consider the timing of when to sell your home based on market trends and buyer activity.
In summary, the housing market is experiencing a slight increase in new listings, providing more options for buyers still in the market. However, elevated mortgage rates may deter some potential buyers. Both buyers and sellers should consider the current state of the market when making their decisions.
As a Kansas City Realtor, we want to make sure you have all the information you need when buying or selling a home. Some questions you may want to ask are, “What does the increase in listings mean for the local market?”, “How do elevated mortgage rates affect my decision to buy or sell?”, and “What strategies can I use to navigate the current market trends?”
Our “hot take” on this news is that it’s important to stay informed about the housing market and work closely with a trusted Realtor to make the best decisions for your unique situation. With the right knowledge and guidance, you can successfully navigate the ever-changing real estate landscape.
To learn more about buying or selling a home in the Kansas City area, contact our expert real estate team today. We’re here to help you make the most of your home buying or selling experience.
Orginal article: Link To Article – provided by Kansas City Realtors
