Kanab Real Estate Roundup for February 15th - 22nd 2023
Click HERE to watch the quick video update on our YouTube channel!
Real estate is such an interesting business because it's all about human behavior and perception.
There was a surprising, but small, increase in the mortgage rates this last week, mainly due to consumer spending. So even with all of the talk of a recession, people are still confident enough in the economy that they are out there spending. Rates went up .2% to 6.32% for the average 30-year fixed-rate mortgage.
In the new construction and development realm, nationally construction permits have been leveling off, but housing starts haven't been hitting the projected estimates. Which means we MAY see large developments put on hold until things stabilize a bit.
Here in Kanab... New Listings This Week - 3
Price Decreases This Week - 2
Under Contract This Week - 2
Sold This Week - 1
Total Inventory of Homes Available - 31
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