Missouri Housing Market Remains Strong

Year-over-year the number of homes being sold in Missouri is down 15%. Andrea Sheridan, President of the Missouri Association of Realtors, says that although less homes are being sold, there are still many people who are looking for one. She wants interest rates to stabilize so that more people enter the home buying market…

In addition to the interest rate, she says more people are historically staying in their home longer. Sheridan also says that the days of 3 or 4% interest rates are ‘never returning.’ Interest rates are currently about 8.3% for a 30-year fixed rate mortgage.

(From Missourinet)