Play Your Game with Alan WalkerMarket of the Moment - 3/17/2023
Market of the Moment - 3/17/2023: We are hovering around 500 homes active on the market under 700,000. This has been the norm for the past month. Buyers are buying, as proven by solds increasing week over week. As we creep towards April and spring (which in Utah is most likely late May), w...
Play Your Game with Alan WalkerMarket of the Moment - 4/28/2023
We've seen a small bump in inventory, though we are still much lower than we were in the winter.Buyer sentiment has improved, more showings are taking...
Play Your Game with Alan WalkerMarch 2022 vs. March 2023
We saw a decline in median home price for single family homes in Salt Lake County of 9% year over year for March. The last half of last year, we saw a decrease of 11.7%, so we've rebounded from the bottom at $561,000 in December of last year. Maybe in June, when there's no more snow, we'll s...
Play Your Game with Alan WalkerMarket of the Moment - 3/17/2023
Market of the Moment - 3/17/2023: We are hovering around 500 homes active on the market under 700,000. This has been the norm for the past month. Buyers are buying, as proven by solds increasing week over week. As we creep towards April and spring (which in Utah is most likely late May), w...
Play Your Game with Alan WalkerMarket of the Moment - 4/28/2023
We've seen a small bump in inventory, though we are still much lower than we were in the winter.Buyer sentiment has improved, more showings are taking...
Play Your Game with Alan WalkerMarch 2022 vs. March 2023
We saw a decline in median home price for single family homes in Salt Lake County of 9% year over year for March. The last half of last year, we saw a decrease of 11.7%, so we've rebounded from the bottom at $561,000 in December of last year. Maybe in June, when there's no more snow, we'll s...
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We saw a decline in single family home prices in Salt Lake County of over 7% between 2022 and 2023.
What is causing this? Interest rates.
Many folks have been priced out of the market because, as we all know, you don't buy a home based on price, you buy a home based on the monthly payment.
Interest rates have caused prices to drop but they've already rebounded from their low of $561,000 in December of last year. Most likely, that was the bottom of the market. It may be a while before we see the peak high of $636,000 but price action shows that there isn't a bubble to be burst, its straight forward economics.
#utahrealestate #utahrealestateagent #utahrealtor
We saw a decline in single family home prices in Salt Lake County of over 7% between 2022 and 2023.
What is causing this? Interest rates.
Many folks have been priced out of the market because, as we all know, you don't buy a home based on price, you buy a home based on the monthly payment.
Interest rates have caused prices to drop but they've already rebounded from their low of $561,000 in December of last year. Most likely, that was the bottom of the market. It may be a while before we see the peak high of $636,000 but price action shows that there isn't a bubble to be burst, its straight forward economics.
#utahrealestate #utahrealestateagent #utahrealtor
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