Let's Talk About Utah's Crazy Housing Market
Happy Happy May! Is it going to be how the old saying goes… April showers brings May ﬂowers? I hope so!!
For this months prime blog I want to talk about this crazy Housing market we are in.
According to realtormag.org in a recent article in April 2017 they stated…
This spring’s housing mantra: Going, going, gone! “Severe” housing shortages are prompting existing homes to sell significantly faster this year, propelling home sales to the highest pace in more than a decade.
I have certainly seen this first hand. If you are selling you definitely have the power right now. Problem is, finding that home once you have sold yours. It feels like a bidding war and people will do pretty much whatever they can to get the home.
Here is some other interesting facts from the NAR,
Total existing-home sales—which include completed transactions for single-family homes, townhomes, condos, and co-ops—reached a seasonally adjusted annual rate of 5.71 million in March. The sales pace is 5.9 percent above a year ago. Further, existing-home sales are now the strongest month of sales since February 2007 (5.79 million).
We are at the 2007-2008 prices! That is great news if you are looking to get some equity out of your home to put toward a new one. It is a fact and it is here to stay but buying a home has definitely gotten more expensive over the past year. It is not predicted to go back to where it was.
We at Prime pride ourselves on getting you the most equity out of your home and get you into something that is going to be financially a good decision for you and your family.
We would love to help you by doing a current market analysis on your home and see what it is worth.
Give me a call, I have done 3 this last week that were better than expected!
THE PRIME MISSION
We are a boutique Real Estate Brokerage committed to educating our clients how to maximize profits when buying, selling and investing in real estate. We achieve this accord by serving our clients with the heart of a teacher.
From luxury listings to first time home buyers, we dedicate our time, resources and knowledge, to achieve a very personal and rewarding real estate experience.
Jen Paxton is a Real Estate Agent for Prime and contributing Blogger.