04/29/2024
If you are ready to list or purchase a home in the near future here are some statistics that you will find helpful. There are several loan programs available and ways to keep more of your equity in your pocket. Remember you don’t need to go through this process alone. Give me a call and I’ll help you navigate this market. 😉
Utah home sales fell while prices increased in March, largely the result of high interest rates and constrained housing inventory.
The story for U.S. existing sales was similar with sales down and prices up year over year.
"Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves," said Lawrence Yun, chief economist for the National Association of REALTORS®, in a press release about U.S. existing home sales. "There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market."
"More inventory is always welcomed in the current environment," Yun added. "Frankly, it's a great time to list with ongoing multiple offers on mid-priced properties and, overall, home prices continuing to rise."
Utah statistics for members: https://utahrealtors.com/realtors/market-statistics/
Utah statistics for the public: https://utahrealtors.com/consumers/resources/statistics/
