'Market stalemate'

Ephrata real estate agent looks at the state of the housing market

EPHRATA — The economy has been on a roller coaster ride for the last couple of years, and that includes the housing market in Ephrata. “It’s not really a buyer’s or a seller’s market at this point,” said Theresa Scheib, owner of Patrick Real Estate in Ephrata. With interest rates at 6-7%, buyers are being more picky and more likely to negotiate, she said, but there is not enough inventory to create a true buyer’s market. It’s not entirely a seller’s market either, she said, because the interest rates also dictate how much people can spend. A homeowner who wants to sell will have to come down to meet what the buyers can actually afford. “That 6-7% interest rate takes like 200 grand off the sales price,” she said.