Is this the best time to buy a home in Kansas City?
A while back I wrote about how the right time to buy a home in the Kansas City area was here. I thought then that a perfect storm had hit the Kansas City Real Estate market with lower priced homes and very low interest rates, making it a no-brainer to buy a home at that time.
Well, guess what? The recent economic slowdown is trying hard to make a liar out of me, because things got even better for homebuyers in the Kansas City area.
The US credit rating was recently downgraded and stocks quickly plummeted. Everyone feared rising interest rates would follow but instead RATES WENT DOWN! 30 year fixed rate loans have been as low as 3.875%!! Couple this with the continued low prices of real estate and the perfect storm I wrote about before just became a hurricane.
But the latest news is that home prices started going up in the past few weeks and experts do expect interest rates to rise to the mid to high 5’s so this may really, really, REALLY be the best time to buy a home in the Kansas City area.