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Today, I want to go over the fall forecast and what you can expect from the Salt Lake City market moving forward.
As you've probably heard, interest rates are going to stay where they're at - they're not going to get any better. This makes now a great time to lock in a low rate and save in the long term.
On the inventory side of things, we've seen a rise of about a half of a percent. At the same time, we're about half a percent down in the homes under contract category. These stats simply mean that there is a tiny bit of surplus of available homes.
Overall, current conditions make right now a great time to move up. When a market is super hot, fantastic interest rates and a higher inventory mean that you have a great opportunity to find the perfect home. You will have more time to view homes because there is less competition in the market. Especially if you're looking to get a deal done by the end of the year, now is the time to start the process.
Simply put, there are plenty of buyers out there and plenty of homes to choose from right now. If you would like to take advantage of this very strong market, don't hesitate to reach out to us. We would love to hear from you!
