Updated: Apr 2
Our market is on fire, but this isn’t a repeat of 2008.
This crazy real estate market of ours has been the talk of the town lately, and a lot of people are wondering whether this trend will continue or if it’s a repeat of past markets (e.g., 2008). I don’t have a crystal ball, but today I’ll share some key facts and data to explain the difference between what’s happening now and what happened back in 2008. I’ll also give my predictions for the future of our Utah market. Our population is growing, which means inventory will stay low and demand will stay high.
Watch the video above in its entirety to get the full scoop on our market or use these timestamps to skip ahead to various sections at your leisure:
1:00—What the volume of people moving into our state means in terms of demand
1:47—The crazy price points we’re seeing
2:31—Buyers are more legitimate because they have to go through underwriting and meet much stricter lending guidelines
4:32—Why our supply will stay relatively low for a long time and how this makes things difficult for first-time buyers
5:26—Patience is everything in this market
6:03—Why I’m trying to buy everything I can
6:52—Wrapping things up
As always, if you have questions about the topics discussed in this video or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.