Market Spotlight - Rates still under 7%

Interest Rates and Market Update: A Window of Opportunity in Platte County

Hey Platte County homebuyers and sellers, Ken Hoover here with the Ken Hoover Real Estate Group bringing you a quick market update you don’t want to miss.

Right now, we’re starting to see some important shifts. Inventory is beginning to rise, and more price drops are hitting the market. This is creating some much-needed breathing room for buyers who have been navigating a tight market for months.

Interest rates are holding steady at the moment, which is great news. However, inflation concerns remain on the horizon and could push rates higher again soon. What does this mean for you? If you’ve been waiting on the sidelines, this could be the perfect window to lock in a mortgage and secure your new home before competition ramps up again.

Here’s how this plays out in Platte County’s real estate landscape:

• The overall pending ratio is currently at 71%, showing strong buyer interest, but with rising inventory, buyers now have more options to choose from.
• In the under $500k segment, demand remains high with a pending ratio of 96%, but price adjustments are giving buyers more negotiating power.
• For sellers, it’s essential to price homes competitively and be ready to consider offers as buyers become more selective.

If you’re interested in exploring what’s available, I’d love to show you a few homes this week. Let’s work together to find the right property for you while the market conditions are favorable.

Feel free to reach out at KenHooverSells@gmail.com to schedule a tour or get personalized advice on navigating the Platte County market.

Remember, timing is everything in real estate—and right now, the timing looks promising.