Home sales and prices predicted to rise in 2018

Salt Lake City was named #6 in the Top 10 Housing Markets for the upcoming 2018 year by the National Housing Forecast. The list was made up of markets based on the largest sales and price gains. The report also predicts that 2018 home prices will be up from 2017's prices by 3.2%. To put that in perspective, 2017's prices were up 5.5% from 2016. We can expect more manageable home price increases as well as a modest acceleration of home sales for the upcoming year.

The other real estate markets to make the Top 10 list are; 

1. Las Vegas/Henderson/Paradise, NV

2. Dallas/Fort Worth/Arlington, TX

3. Deltona/Daytona Beach, FL

4. Stockton/Lodi, CA

5. Lakeland/Winter Haven, FL

7. Charlotte/Concord/Gastonia, NC, SC

8. Colorado Springs, CO

9. Nashville/Davidson/Murfreesboro/Franklin, TN

10. Tulsa, OK

What does this mean for Wasatch County?

Nationally, the low inventory of homes in 2017 drove prices high and made it difficult for buyers to purchase a home due to intense competition with other buyers. Even though that will subside in 2018 with builders catching up to the housing demand, it may take a little more time for that trend to be witnessed in Wasatch County. We live in a desirable location with talented and skilled craftsmen and contractors and my prediction is that their skills will still remain in demand in our valley for quite some time. Although the overall increase in the inventory of homes is expected everywhere else, it may take a bit longer to feel the effects here in Wasatch County.

Brought to you by Heath @ HeathsHomes.com