The demographic director at the U of U says Utah's growth is not a rip roaring growth but a sustainable controlled growth as we emerge from a recession. James Wood, a senior fellow at the U of U, says there is a housing shortage in the state as we experience this growth. What does that mean for the real estate market in Utah and in Wasatch County?
James Wood states, "The number of new listings of “for sale” homes have been disappointing. Listings have lagged well below demand, limiting home buyer choices."
Experts that predict real estate market conditions expect 2017 to be very similar to 2016. If you are selling your home in 2017, you can expect to benefit from the housing market with quick sale times and many potential buyers interested in your home. If you plan on purchasing a home this year, you can expect to have quite a bit of competition with other buyers for homes you are interested in buying.
The Heath Harvey 2017 Outlook for Wasatch County shows a low inventory of homes for sale with a high demand of buyers. Home prices in the Wasatch Back will increase slightly along with interest rates. The market is still good overall for both buyers and sellers. Sellers will see a good return on their investment and buyers can still take advantage of low interest rates.
As the demographics of Utah and Wasatch County change and shape the real estate market and home buying experience, questions may arise. Please feel free to call me and talk about your real estate investment. 801 631-3430
Brought to you by Heath Harvey @ HeathsHomes.com.
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Great insight! And good news for home sellers.
ReplyDeleteThank you very much, Rachel. We appreciate you taking the time to read our blog. Keep checking back for more great local information.
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