I want to let you in on a secret. In the real estate market, we are seeing something that happened in 2005 that had a big impact on the housing market.
I recently found out about several companies outside of Utah that are buying a lot of homes in Utah. There is one company buying as many as 60 homes a month right now. Another company is planning on buying 30 a month. This is just 2 of the companies coming to Utah. These companies may have a huge impact on the Utah market.
What does that mean for the housing market in Utah? All of these homes being purchased are under $300,000. That means that suddenly 10% of home purchases will be investors. If you've looked at the market you've seen that supply is already limited. This new surge of investor purchases will take that inventory even lower.
I believe that in 6 months our home prices will be higher because of these companies combined with normal market growth. Armed with this information you should know what it could mean for selling your home. The demand looks like it is being inflated.
That means it might be a good year for sellers!
Let me do a free analysis on your home to determine if selling this year is a smart plan for you.
About the Author:
Utah Dave - Daybreak Neighboorhood Expert and Local Resident
My friends nicknamed me Utah Dave in high school because they said it didn't matter where we went in Utah, I would know how to get there and who we needed to talk to. The name sticks today as UtahDave has formed into a professional real estate network of Neighborhood Experts all across the state. I live in Daybreak with my wife and 4 amazing children. I enjoy dancing (which is how I met my wife Dawn) as well as traveling, coaching, and learning.
