ST. LOUIS, MO. (KTVI) – St. Louis realtors told FOX2 it is currently and “buyers and sellers” housing market.
Low interest rates have increased the number of people who want to buy a home; consequently, the demand for homes has increased.
However, realtors said there are not enough homes on the market to satisfy demand.
“We have multiple offers on so many homes, so now is the time for people looking to sell to get in the market,” Coldwell Banker Gundaker Realtor Dana Gundaker-Devers said. “People don’t know how long these interest rates are going to last, so now is the time to sell.
Most interest rates are around 3 percent.
“That is pretty low, and it makes owning a home a real possibility for a lot of people,” Gundaker-Devers said.
Mortgage brokers told Fox 2 that more loans are also available.
The trend is something Gundaker-Devers said could last for a while.
“As long as interest rates stay low,” she said.
She added that the trend is a sign the economy is improving.
“The housing market is a good indication of that,” she said.