October Kanab Real Estate Roundup
Howdy all, and happy Fall!
Here is your Kanab Real Estate Roundup for the month of October.
You will notice that with 19 homes currently on the market and 15 homes sold last month, we have just a little over one month's inventory, so we are still in a seller's market.
But the real estate market has begun to soften around the country, and Kanab is no different. Historically low interest rates are part of what fueled the market this year, but interest rates are expected to creep up as the Federal Reserve tapers its anti-inflation measures. Mortgage interest rates are expected to be in the 4's by next Spring, which is still low.
If you are in a home with a mortgage of 4% or over, I highly recommend refinancing to a lower rate while you still can. Even a 1% change in your interest rate could save you hundreds of dollars each month.
As always, if you have any questions about the Kanab real estate market, I'm here to help!
Karen Heet, Owner/Broker
Love Realty Utah