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. 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.
“Right now, we’re still hovering around two months inventory, which is still very low," Owens said. "That would indicate it’s still a sellers market."
Loan officer Shelby Bartelt said people looking to buy a house should look for a local mortgage lender.
“Some of the questions that I ask prospective clients is really what is their ideal monthly payment?" Bartelt said. "What is that cash to close amount that they’re comfortable with and from there, it’s really my job to structure, get creative and share strategy’s that they are excited to buy a home and win in this market."
Bartlelt adds the recent changes in the housing market mean she's getting creative and working harder for her clients.
“There are opportunities where buyers assume they’re either adjusting their sales price, looking at a lower priced home, or they’re having to increase their down payment, when actuality we can use some different strategies including asking sellers for a credit to help buy down that interest rate," Bartelt said.
Ara Staab is on the housing market and has a mix of emotions.
“It’s been quite an adventure. Honestly, a lot of unknowns," Staab said. "Since this is my first home that I’m buying, it's scary and exciting all at the same time.”
Changes in the housing market haven't scared Staab too much. The mother of two plans to move her family out of an apartment and into a home by the fall.
“That’s our dream. Just my kids to have their backyard, their own room," she said. "Like having all those fun, family memories that I grew up.”