Trela Bird Salt Lake City Realtor

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Trela Bird Salt Lake City Realtor

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Award winning Realtor providing residential real estate services for Salt Lake City.

Trela is a Realtor serving the needs of residential home buyers and sellers in the Salt Lake City Real Estate market and all across the Salt Lake Valley. If you are buying your first home, relocating to the area, selling your current home or whatever your realty needs, you need a real estate agent who is reliable, honest and professional. Trela had been working as an awarding winning Realtor for more than 10 years and will provide you with the very best level of service. To get started visit our website where you can search for local MLS, request a relocation package, see home price trends and much more. Alternately give me a call and I will be more than pleased to answer any questions you may have.

02/28/2024

This is an article about the widening gap between median house prices and income in the United States. It discusses how in 1984 the median house price was 3.49 times the median household income. By 2023, this ratio had grown to nearly 6 times. The article explores reasons for this trend, including the surge in home prices in the mid-2000s and the economic recession of 2008. It also mentions the impact of factors like low interest rates and a shortage of new housing supply. The consequences of unaffordable housing are discussed, including its effect on consumer spending, economic growth, and worker mobility.
* https://www.visualcapitalist.com/median-house-prices-vs-income-us/

We chart the widening gap between median house prices vs. income in America, using data from the Federal Reserve.

02/12/2024

While 2023 may have seemed like a down year for Salt Lake real estate it was not that bad. Prices were down, but only 3.04%, with the median sales price at $510,000. There were fewer home sales, which declined 14.69% and homes did take longer to sell (25 days up 127.27%).

Overview of Salt Lake County housing market for the 2nd Quarter 2023 where the impact of higher interest rates have impacted prices.

08/30/2023

Salt Lake County Home Price data shows that prices declined 6.53% in the 2nd quarter of 2023 (when compared to the same time last year). But when we look at prices compared to the 1st quarter we see that prices actually went up ($500,000 to $515,000). For a full breakdown of prices by zip code see:

https://www.bestsaltlakehomes.com/historic-prices/slc-2q-2023.html

Overview of Salt Lake County housing market for the 2nd Quarter 2023 where the impact of higher interest rates have impacted prices.

07/19/2023

Interesting article explains how and why people are reluctant to move when interest rates rise and the impact on the Salt Lake Real Estate Market

Utah homeowners enjoy the nation's lowest percentage of high mortgage rates. That makes it hard to sell.

04/10/2023

So what is the real estate market going to do this year? Well, not even the so-called experts can agree.

The housing market is in a state of flux, with analysts divided on whether prices will continue to rise or fall in the coming years. Zillow and Moody's Analytics are two of the most respected housing market forecasters, and they have recently issued conflicting predictions for the 2023-2024 period.

Zillow predicts that home prices will continue to rise, albeit at a slower pace than in recent years. The company's forecast calls for a 5.5% increase in home values in 2023, followed by a 3.5% increase in 2024. Zillow's forecast is based on a number of factors, including the continued strength of the economy, low unemployment rates, and limited inventory of homes for sale.

Moody's Analytics, on the other hand, is forecasting a decline in home prices in 2023. The company's forecast calls for a 2% decrease in home values, followed by a 1% decrease in 2024. Moody's Analytics' forecast is based on a number of factors, including rising mortgage rates, inflation, and the possibility of a recession.

It is important to note that these are just forecasts, and the actual outcome of the housing market is uncertain. The economy is constantly changing, and there are a number of factors that could impact the housing market in the coming years.

Here's a closer look at regional housing forecast models produced by Zillow and Moody's.

04/04/2023

This article discusses the recent trend of home sellers holding off on listing their properties for sale. This is due to a number of factors, including rising mortgage rates, which make it more expensive to buy a new home, and the fact that many sellers are happy with their current homes and do not feel the need to move. The article also discusses the impact that this trend is having on the housing market, as it is leading to a decrease in the supply of homes for sale and keeping prices high.

Here's inventory data for the nation's 400 largest housing markets.

04/03/2023

The article discusses the impact of short-term rentals on the Salt Lake City housing market. Short-term rentals are defined as properties that are rented out for less than 30 days. The article states that short-term rentals have been increasing in popularity in recent years, and that this has had a number of negative consequences for the housing market.

One of the main concerns is that short-term rentals are driving up the cost of housing. The article states that the number of short-term rentals in Salt Lake City has increased by 50% since 2016. This increase in demand has led to an increase in the cost of housing, making it more difficult for people to afford to buy a home.

Another concern is that short-term rentals are reducing the supply of housing available for long-term residents. The article states that many landlords are converting long-term rental properties into short-term rentals because they can make more money. This is reducing the number of homes available for people who want to live in Salt Lake City on a long-term basis.

The housing market has radically been changed by Airnbnb and corporate owners and investors. Why does this matter for America?

03/28/2023

Interesting article from CNN.

New home sales in the United States rose by 1.1% in February, marking the third consecutive monthly increase, as mortgage rates dropped from their previous year's highs and buyers sought new homes due to the historically low inventory of existing homes. Although new home sales fell 19% compared to the previous year, February's monthly increase suggests the housing market could be stabilizing. Sales of new single-family homes reached a seasonally adjusted annual rate of 640,000 in February, the strongest since August 2022, while the median price for a new home rose to $438,200, up from $427,500 in January. The US Census Bureau estimated a supply of 436,000 new houses for sale at the end of February, with an 8.2-month supply at the current sales rate. Demographic drivers, such as the baby boom among college-educated women during the pandemic, are expected to continue pushing demand for new homes in the coming months.

New home sales rose in February, climbing for the third month in a row as mortgage rates eased off their highs of the past year and buyers looked to new construction amid historically low inventory of existing homes for sale.

01/03/2023

Interesting article on the real estate market for 2023. Basically a lack of demand due to high-interest rates and sellers not willing to sell their home may lead to a low turnover market.

Redfin deputy chief economist Taylor Marr estimated that the number of households buying or selling real estate nest year will fall to the lowest level since the 80s.

Address

South Jordan, UT
84009

Telephone

+18014503535

Website

https://www.bestsaltlakehomes.com/

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