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Currently, in Salt Lake City, we only have 2,500 homes available. This is low, since we normally experience around 5,000 homes on the market. There’s a severe lack of options buyers have to choose from today.
What does this mean for Utah consumers? Housing prices are increasing and there’s a buyer frenzy. With historically low interest rates, they panic when they see how little inventory there is to choose from. Plus, under these conditions, we experience more multiple offer situations.
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Housing prices will increase.
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If you’re thinking about selling your home, investing in real estate, upgrading or downgrading, list your home now! You’ll earn top dollar because of low inventory. I can’t stress it enough. If you wait on the sidelines, you’ll miss out on maximizing your profit and you’ll have significantly more competition in the springtime. Beat the rush!
Check out the state’s Economic Forecast this year. This gives predictions for our local economy in 2016, such as job growth and unemployment rates. It also translates to real estate. It’s not long, so feel free to browse through it at your leisure.
Give me a call or email today if you’re thinking about listing! Don’t wait. I look forward to hearing from you soon!
