Salt Lake City used to be one of the hottest real estate markets in the country, but now is ranked No. 116 out of 300 metros in the month of August, according to Realtor.com. Salt Lake is a “slightly hot” market that is “cooling down.” Median days on market is 30.5 days, with inventory moving 6 percent faster than last year and 30.5 days faster than the U.S. overall. Properties in the area receive an average number of views 0.7 times lower than the U.S. average. Courtesy Source Salt Lake Board of Realtors
New Index Reveals Impact of COVID-19 on Real Estate
New Index Reveals Impact of COVID-19 on Real Estate Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted...
What Are the Experts Saying About Future Home Prices?
What Are the Experts Saying About Future Home Prices?A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting...
Utah Homebuyers Are in the Mood to Buy Today
Homebuyers Are in the Mood to Buy TodayAccording to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a...
Top Reasons to Own a Home in 2020
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Want to Make a Move? Homeowner Equity is Growing Year-Over-Year
Want to Make a Move? Homeowner Equity is Growing Year-Over-YearOne of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights...
Three Reasons Homebuyers Are Ready to Purchase In 2020
Three Reasons Homebuyers Are Ready to Purchase This YearA recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health...
Real Estate Tops Best Investment Poll for 7th Year Running
Real Estate Tops Best Investment Poll for 7th Year RunningEvery year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment. Respondents are asked to select real estate, stocks/mutual funds, gold, savings accounts/CDs, or...
How Did Covid-19 pandemic affect Salt Lake County home sales
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Are You Ready for the Summer Housing Market?
Are You Ready for the Summer Housing Market? As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the...
Is a Recession Here? Yes. Does that Mean a Housing Crash? No.
Is a Recession Here? Yes. Does that Mean a Housing Crash? No. On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way:...