Given that Vlad is getting ready to start the draft in Russia and there's a very real chance that U.S. currency might turn to confetti . . . Now isn't the best time to take out EPIC loans.
Accordingly and of course . . . Locals with property to sell are singing a different tune. Example:
“Things are changing and things are shifting," said Alex, a realtor in Kansas City. "What we’re feeling is more of a rebalance. We’re not seeing values on homes plummet by any means. They’re staying pretty steady and actually still increasing a little bit.”
Owens said although news headlines about the housing market seem dire, the situation on the ground looks different.
Read more via www.TonysKansasCity.com link . . .
KANSAS CITY, Mo. - Despite news of an interest rate increase and drop in existing home sales, housing experts say the Kansas City area market is still strong. "Things are changing and things are shifting," said Alex Owens, a realtor in Kansas City. "What we're feeling is more of a rebalance.
Further reading . . .
Home sales declined for the seventh month in a row in August as higher mortgage rates and stubbornly high prices pushed prospective buyers out of the market. Sales of existing homes - which include single-family homes, townhomes, condominiums and co-ops - were down nearly 19.9% from a year ago and down 0.4% from July.
WASHINGTON, Sept 21 (Reuters) - U.S. existing home sales dropped for the seventh straight month in August as affordability deteriorated further amid surging mortgage rates and stubbornly high house prices, though the pace of decline moderated from prior months.
Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month.
The US housing market has been slowing down in the past few months as interest rates continue to climb. But Goldman Sachs has warned prospective home sellers that the housing market downturn is expected to worsen in 2023. And for interested home buyers, this doesn't necessarily mean lower home prices.
You decide . . .