Joplin housing market benefits from lower mortgage rates and mild weather, suggests realtor
JOPLIN, Mo. — Action taken by the fed last year, could be behind a home buying trend this year in the US. But what impact has it had locally?
Towards the end of last year, the fed did something they hadn’t done in a long time, allowed mortgage rates to actually drop. That action could be partially responsible for a recent spike in home sales.
A 9.5-percent growth between January and February, the largest monthly gain in a year according to the national association of realtors.
“It’s, it’s just been gradually building I think since last year, we’re up about 13 percent of last year this time.”
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Joplin housing market benefits from lower mortgage rates and mild weather, suggests realtor
Area realtor Alisha Nunnelly said sales are also up in the local market, and she thinks mother nature may have something to do with it too.
“Well generally, home sales kind of drop off around the holidays and pick up about January, February ish, but this year we haven’t really had much of a winter so home sales have just been going strong,” said Nunnelly.
She says lower rates have really benefited customers in the so called luxury market.
“Lot’s of good, lot’s of good deals out there especially in the three hundred thousand dollar and over range, you can get a really good bang for your buck on that.”
But she says area residents aren’t just competing against each other when it comes to available homes.
“Really a good mix of people that are in town and investors and out of town investors as well but still lot’s of new homes going up, lot’s of building going on in Joplin which is great.”
