A lot of people have been asking us lately if we are in a
buyer's market or a seller's market. This is a two-fold question, because real
estate is hyper-local, and the type of market you are in really depends on the
price point and the area.
For most markets around K.C., we are in a seller's market right now. It doesn't hold true at every price point, but for the first time in many years we are seeing sellers benefit greatly in our market. Some areas have just 1 or 2 months of inventory and in those areas, you can get a lot more home right now than you could in the past.
I don't really see this seller's market changing over the next few months. Inventory is so low, we are going to continue to see strong price gains in the near future, probably 3-5% a year!
Mortgage rates are still historically low, significantly lower than they have been throughout history. You don't want to miss this opportunity to lock in a long-term rate at such a low price. Your window of opportunity is closing, so I recommend you make haste and get ready to take advantage of these conditions!
If you have any questions for us you'd like to submit, let us know. We would love to talk about it on our next video! Have a great day!
