The Utah Housing Market

If any of you have spent a little time looking at purchasing a new home in Utah, you may have been in for a bit of a surprise. Most people come in expecting a slow market, little activity, and lots of great deals to take advantage of. You may be shocked to find out that in most of Northern Utah we are currently in a Seller's market! Interest rates are still historically low but expected to rise. Home values are going up as much as 7-12% in most areas. There are currently more buyers then there are sellers causing low inventory and high demand. These conditions have created an excellent opportunity for both buying and selling a home! If you're buying you can get in while home values are still going up. You can also take advantage of extremely low interest rates. If you're selling there's a good chance you'll have more than 1 buyer interested in your home which often results in multiple offer situations wherein your home can sell for above asking price.
Let me know what you have seen in your neighborhood. Have home values gone up around you? Are homes selling in shorter periods of time?
Let me know in the comments or if you have any questions regarding Utah Real Estate!

Kenny Maddy
Equity Real Estate - Premier Elite
801-599-3744