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Affordable Homes Selling Fast

June 18, 2018 - 10:33 am

ST. LOUIS (KMOX) - If you're looking to buy a home, now's the time to get on it. That's according to Coldwell Banker Gundaker President Jim Dohr. Dohr tells KMOX prices are up 5 percent so far this year, and with mortgage rates expected to rise, time is of the essence. He says that's especially true if you're looking for a home under $300,000.

"We have a lot of people who would like to purchase an affordable home, but they have to act quickly because the homes sell very quickly because there just isn’t enough inventory," he says.

Dohr says there's only a one month supply of homes under $300,000 on the market, a six month supply is considered ideal.