Kanab Real Estate Update: June's Third Week in Review

Discover the latest trends in the Kanab real estate market as we wrap up the third week of June. With the market showing signs of activity across both residential and land sectors, it’s a crucial time for potential buyers and sellers to take note.

Market Movements:

  • New Listings: Six homes were newly listed, offering fresh opportunities for prospective buyers.
  • Price Adjustments: A notable eight homes experienced price decreases, reflecting a responsive market aiming to attract buyers.
  • Contracts: Despite the active listings and adjustments, only two homes went under contract, indicating a selective market environment.

Land Developments:

  • The land segment witnessed modest activity with one new listing entering the market. However, like the housing sector, it saw limited movement in terms of sales, with three price reductions and one contract underway.

Interest Rates Insight:

  • Current mortgage rates for a 30-year fixed loan stand at 6.95%, slightly higher compared to last year’s 6.69%. This stability in rates suggests now might be a good time for buyers who have been on the fence, waiting for significant drops post-pandemic lows.

The steady interest rates indicate a market ripe for decisions. Waiting for rates to return to the lows of the pandemic might be in vain. Instead, seizing the current opportunities could be beneficial for those looking to invest or find a new home in Kanab.

For more information or to discuss your real estate needs, feel free to reach out.

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