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Joplin's Housing Market Heating Up

JOPLIN, Mo. -- If you're looking to buy a home in Joplin, the housing market falls in your favor.
JOPLIN, Mo. -- If you're looking to buy a home in Joplin, then the housing market falls in your favor.

"We are in a buyers market in terms of the housing market. There's more inventory than there are buyers, so some might perceive it as slow, but buyers can get good rates on houses," Lisa Fletcher, Keller William's Realtor.

Realtors like Lisa Fletcher say there are a lot of houses to chose from and that hasn't changed since last year. She adds two years ago it was a sellers market.

"Right after the tornado, we lost so many houses that there's was a huge rush in purchasing homes, that is true. A lot of homes that were lost were rental properties so not every lost home equated to a home purchase," said Fletcher.

A lot of that has evened out, turning the market around. It makes it easier for first time home buyers like Devyn McPherson to purchase a house.

"I think there's room to be picky right now," said Devyn McPherson, a first time home buyer.

So she looked at 10 homes before settling down.

"Location, we're kind of close to everything, so mainly location and price," said McPherson.

She says getting with a good lender and real estate agent helped make the transition smoother.

"There's so much that goes into from the time that you find that home to the time that you close, the inspections and all that good stuff. I think it really helps to have someone," said McPherson.

The average length for a home to stay up for purchase is three to four months. So if you're trying to sell your home, realtors have a piece of advice.

"If houses are priced to high, they're not going to sell. People are looking for a bargain, so a lot of it is about getting the price right," said Fletcher.

Keller William's agents say on the coast and in larger markets, inventory is dropping so the pendulum's swinging back towards a sellers market.

(story contributed by KODE, Joplin, MO)
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