October Fall 2018 Matt Bagley Team Newsletter
It’s that time of year again where we get to see the magnificent colors of the leaves as they change and get ready to fall from the trees, with the colder temperatures creeping in. We are so blessed to live in such a beautiful area with so many things to see and do!
How’s the market? We’ve seen a slight increase in the interest rates as of late, which doesn’t seem to be slowing buyers down too much at this point. We are still seeing a low inventory of Homes on the market For Sale and have started seeing some recent price reductions. Homes are selling when priced correctly for the market and in show-ready condition to attract your buyer, so if you are thinking about selling your home contact your Matt Bagley Team to discuss selling your Real Estate quickly and for top dollar.
Our local market is still higher this year than last year at the same time, with closed sales up 19.1% for 2018. The Median Sales Price is $207,500 compared to $190,000 in 2017, according to the latest published Utah Association of REALTOR’s (UAR) Local Market Updates by County. See attached statistics for more details and for all counties.
Are we headed for a Recession? “Recession talk is heating up as concerns about a housing slow down are not supported by the data”. To quote Lawrence Yun NAR Chief Economist, “Is a recession looming? It’s an important question because the US economy has been experiencing one of its longest expansions ever. There were two recessions in the 1970’s, two in the 1980’s, one in the 1990’s and two in the 2000’s. Since 2010, there have been none”.
Yun goes on to say that “Consumer confidence this year is at an index level of 127, the highest reading in more than 20 years (with 100 considered neutral).” Yuns article that is published in the REALTOR September-October 2018 Magazine goes on to give several reasons why he believes, “The odds of a recession in 2019 are slight.”
Call your Matt Bagley Team at ERA Realty Center 435-865-1019 or email email@example.com for your free consultation, top marketing, expertise, knowledge and service. Call or text your Team with questions or 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.