I get it, the housing market get’s exhausting with it’s ups and downs. Across the USA, the housing market had an explosive first part of the 2022 that left home sellers feeling overwhelmed with new wealth. And then the housing market fell for seven straight months and it eventually reached a bottom sometime in March of 2023. It reached a bottom, yet it was questioned wither it necessarily was the bottom as housing prices have lots of room to fall further and pessimists abound.
As the housing market around the US looks to be slowing down, the increase in demand here in Utah with the housing shortage and it’s effect on the market. As we look at Utah’s local housing market. Imagine you recently purchased a home in Utah a city such as St. George and you are genuinely looking to know price this house on the real estate market. A main factor at play here is high interest rates as home buyers look to seek out ways to find themselves inside the home of their dreams.
The impact of raising interest rates and what it will do to Utah’s real estate market.