Autumn 2018 Matt Bagley Team Newsletter Update
“Where Are the Buyers?”
To further quote Lawrence Yun, National Association of REALTORs (NAR) chief economist, “The economy is solidly advancing. The anticipated growth rate of 4 to 5 percent in the second quarter is remarkable. For the year, the GDP will exceed 3 percent for the first time since 2005. Employment, likewise, is strong: 5 Million net new jobs over the past two years, pushing the unemployment rate down to 3.8 percent, the lowest rate in 50 years. Wages are up, too, by 2.8 percent over the last 12 months.” Yun continues, “There is more good news. Despite recent volatility, the stock market has been close to an all-time high.” The economy nationally and locally is excellent!
Yun laments, “And yet home sales are down 1 percent from this time last year, and homebuyer sentiment is tepid.” He asks, “What’s behind the mismatch? For many potential buyers, homes are just too expensive.”
How’s the market? Our local real estate market is thriving! It is true that we could sell more homes if our inventory was larger, but our closed sales are up 19.5% as compared to last year according to latest published Utah Association of REALTORs (UAR) Local Market Updates by County. $205,000 is the Median Sales Price compared to $189,900 in 2017. Our prices have not gone sky high as they have in some areas. See attached statistics for more details and for all counties.
The good news for our local real estate market is that we have more sales in 2018 than in 2017, and our prices are still affordable! With the low interest rates, it is a very good time to buy and sell your homes and properties. Payments can be very affordable whether buying your dream home or planning ahead to let your tenants pay of your rental property. Our market promises to continue strong. We are not seeing signs of a slowdown even though summer is out and fall is in.
Homes and properties are selling in every price range when priced with the market and in show-ready condition to attract your buyer. Call your Matt Bagley Team at 435-865-1019 today to discuss selling your real estate for top dollar quickly. Isn’t that what you want?
Our commitment to you is that our top marketing, expertise, knowledge, and service will continue.
What about your free real estate consultation? Call your Matt Bagley Team at 435-865-1019 today at ERA Realty Center or email email@example.com. Call or text your team with questions and concerns as well as for pricing and staging: Matt Bagley 435-590-8788; Jennifer Corral, 435-559-0366; and Janet Naisbitt-Bagley 435-559-7772. This article written by Janet Naisbitt-Bagley