The market here in Utah is already starting to shift. Today I am going to talk with you about how this affects you as a homeowner, buyer, seller, or investor. You may want to share this with those that you love, especially those looking to make real estate decisions soon.
Nationwide, markets are shifting. In Utah, we are already seeing our inventory increase. We haven’t seen this happen in over five years, so the fact that we saw a 15% increase in the number of homes on the market in just 45 days is pretty significant.
So, what does this mean for you as a homeowner? If you’re happy in your home, absolutely nothing.
However, if you are thinking about selling, now is absolutely the best time to do so.
For those of you thinking about buying, it is also a great time for you because there are more homes on the market to look at.
If you think that waiting for the price to increase again is a good idea, you are taking a pretty big gamble. What if interest rates increase like experts predict to happen in the fall?
For investors that have been sitting and waiting patiently for a market change, get your money ready. Things are going to start changing quickly and we are going to start seeing some deals just around the corner.
The reality is that our economy here is strong. Our unemployment rate is only 3.3%, and we are ranked No. 1 in job growth in the nation. But, homes are 15% less affordable than they were this time last year and wages haven’t increased. This means that something has to change.
If you have any questions about this, or if you are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.