Here are my thoughts on where this Utah market is headed.
What is going on in our crazy Utah real estate market and economy at large? I’m hearing a lot of people say they’d rather wait a year before purchasing a home, and I understand why. I’m telling current buyers that they should anticipate competing against as many as 30 other offers to get the home they want. This is a frustrating process, and it’s difficult to keep people motivated in this environment. I don’t have a crystal ball, but I’ve been through many markets, and today I’ll explain why your prospects of getting a good deal won’t improve if you wait to buy.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
1:48—Inflation is real
3:16—What happens if interest rates go up?
5:12—People are making housing decisions based on working from home
6:09—Utah is no longer the nation’s best-kept secret
7:39—Why I don’t believe prices (or demand) will drop in the next 12 to 18 months
11:27—My own experience dealing with this market
12:15—Wrapping things up/getting creative in helping buyers and sellers
As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.