Welcome to another February.
Here we are in the first few days of February and the month of love. We made it through recovering from snowstorms and Covid and regrouping in January. We have recognized the current challenges in our real estate market and that it is still very much a seller’s market. There is a lot of demand for each property that comes up for sale. If you’re a buyer, be ready to hustle to get the property you want!
I hope you are doing and planning things that you love, with the people you love.
What Does it Mean for Home Sellers?
Home sellers may want to jump on the market while inventory is still low. With a limited number of homes on the market, homes that are priced correctly can expect to sell quickly and get multiple strong offers.
What Does it Mean for Home Buyers?
Mortgage rates are increasing, the rate is currently hovering around 3%, which means buyers may want to act sooner than later. Hope may be on the horizon, with more homes being predicted to come on the market in 2022 providing more options and opportunities for buyers.
2022 Real Estate Season
We expect that home prices will continue to increase at a more moderate pace into 2022, especially in Utah, where we are seeing unprecedented growth. The Wasatch Front alone is predicted to see a 60% population increase within the next 40 years.
If you are ready to sell your property, NOW is a great time. It has never been more crucial to have the assistance of a real estate professional. Experience matters when it comes to selling real estate, and Paula Higman Real Estate is here to help.
Coldwell Banker Realty