Metropolitan Statistical Area (MSA):
West Plains, MO is a Metropolitan Statistical Area (MSA) comprising counties including Howell County.
There are many factors influencing the real estate market in any given area, and the West Plains MSA is no different. The following trends are currently being seen in the housing market here:
1. Low inventory levels are driving up prices.
The number of homes for sale in the West Plains MSA has been declining steadily for several years now, while at the same time, demand from buyers has remained strong. This has resulted in prices rising to meet the high demand, and they are not showing any signs of slowing down anytime soon.
2. First-time homebuyers are struggling to enter the market.
With prices on the rise, it is becoming increasingly difficult for first-time homebuyers to afford a home in the West Plains MSA. Many are being priced out of the market altogether, and those who are able to purchase a home are often doing so with less than ideal terms (e.g., higher interest rates, smaller down payments).