Our inventory is expanding, ever so slightly with over 600 homes on the market in Salt Lake County under 700k. We haven't seen this many homes on the market since February. Last June we were at 800.

Price reductions and expired listings are trending down, which indicates more alignment between sellers' expectations and buyers' willingness to meet them on price.

The most interesting is how quickly homes are going under contract across the board. We aren't seeing single digit, but we are hovering around 2-3 weeks for all price points. A big improvement over the 30-40 days on market we were seeing earlier this year.

Our lack of inventory continues to drive prices up, even in a higher interest-rate market. Make no mistake though, once interest rates drop, prices will soar even higher. Its more important to be in the market than wait for the perfect moment to jump in.

All signs point to the market heating back up. Our inventory is still constrained under 500 active single family homes in Salt Lake County under 700,000.

Price reductions have come down slightly this week, possibly indicating that sellers are being more realistic with their expectations when going on the market.

The Fed just raised rates another .25% as another bank failure hits the news. Hard to say what their take will be for the rest of the year.

Like every market, real estate is driven by fear and greed. When a market is experiencing fear, its almost always a time to find deals.

That deal could look different for each person. For someone, the deal could be getting into the house they actually want to be in for 5-7 years and understanding that rates will fluctuate. For another, the deal may be picking up an investment property in an up and coming neighborhood. For yet another, it could be selling a property to set themselves up for a better financial position in the future.

Don't let fear convince you that real estate isn't one of the best investments for your money. Over time, not in 12 months, it will give you astounding returns.

Let me help you with your real estate goals. Let's see how we can help you build wealth now and in the future.

#utahhomes #utahrealestate #utahrealestateagent #utahrealtor 

As we've seen over the last 9 months, our median home price has dropped in the state of Utah and in Salt Lake County.

We hit our bottom in December 2022 and have been steadily increasing every month since. Interest rates have stabilized and buyers are on the hunt. If you have been waiting out the market, this is your sign to jump back in before prices continue to raise despite interest rates.

Moving to Salt Lake? Message me today to get started on the journey!

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(801) 867-2345

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Want to know how much your house is worth?

I can provide you a FREE market analysis and tell you what you can expect to get for your property by showing you the true value! Send me a message with the link in my bio!

As a buyer, my services are completely free to you! Once you fill out the form in my bio, I will reach out to you with a text to see how I can get your dream home!

Actives jumped up a bit, still well below inventory levels the second half of last year but great to see some new inventory.

Pendings and solds are slightly down, which is expected as contracts move through their lifecycles. Days on market still averaging in the 20's across the price points.

If the sun comes out, maybe the real estate gods will shine down on us with a flood of inventory (flood, get it? I'm all about the weather! Hey-yoooooooooo).

Interest rates seems to be dropping ever so slightly.

The good news is, its still a great time to buy real estate. If you've felt yourself pushed around and frustrated 6-18 months ago by being beat out of offers, its time to dip your toe back in the pool. The water's fine!

Who do you know that I can help buy or sell real estate this year?

David goes over some of the common pitfalls we fall into when it comes to accounting for cash in our business.

He offers some free online material at www.simplecfo.com/alanwalker.

You can also buy his book on Amazon at https://amzn.to/3maKmWN.

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

I first met Nic through an organization called the Wolf Den, since renamed The Guardian Academy. TGA focuses on the investing sobriety you need to weather the ups and downs of Crypto and has since expanded into focusing on how to have real world impact through Web 3/Blockchain initiatives.

Nic is also partners with Dan Nicholson, author of Rigging The Game. They co-founded an organization that I am highly involved in, called the Certified Certainty Advisors.

In this interview, we talk about how to create "bumpers" (like at the bowling alley) so that you are optimizing your life towards your own definition of success. Defining your own personal success is harder than you might think. Yet going through that process produces a much richer life than I could have imagined.

I am always here to help with any real estate needs you have like learning the value of your home, connecting with contractors of finding a great lender.

You can schedule some time for a zoom call at https://calendly.com/originrealestate.

Check out the interview here:

Single family homes in Salt Lake county are down 5% vs. this time last year. Prices are down 14.5% since our peak in June of last year at 650,000.

For folks that have been waiting for the market to correct, your wait is over.

Everyone wants a deal and I can't say this enough. In Utah, where we have a shortage of houses and will have a shortage of houses for the next decade, getting into the market with a mortgage payment that makes sense is WAY more important than hoping to get the lowest price in a mortgage rate increasing market.

Time IN the market is way more important than having a lower purchase price and a much higher monthly payment.

The Fed continues raising rates and its possible we move to the 8-9% range this year. This means home prices may come down but the cost of borrowing goes WAY up, which means your monthly payment, even at a lower price, is considerably more than buying now.

If you have been waiting on the sidelines, get in touch and let's get you into your first/next home.