Is now the right time to buy a home? Is there going to be another crash? What does all that mean?
2019 in review
In real estate in 2019, our area saw some of the highest home values since before the crash in the late 2000’s. This is great news for those who were able to buy at the right time and capitalize on appreciation. But what about those just now looking to buy? Is it still a good time to buy? Well, despite the high prices you might see, historically speaking, interest rates couldn’t be better. Sure, they’ve bounced around a bit here and there, but compared to the decades of old, they’re incredible! Imagine paying 10% in interest! No thank you!
Of course to answer this question you need to look at more than just what happened in real estate in 2019 in Utah – we need to take a look at the last few years, and what’s happening around us, too. The economy has been strong: low unemployment here and in the region, stabilizing housing costs, low vacancy in both multifamily and commercial real estate, as well as a strong construction industry. These are all important factors we like to keep an eye on when forecasting for the coming year. Does it mean the market will stay hot? Not necessarily, but we’re not yet seeing the triggers of a recession, which is good news!
Couple that with great interest rates, and there’s a lot to be excited about for the rest of 2019 and 2020.
Twinvestor Real Estate Show
Jared and Justin answer these questions and more in today’s podcast. Buying and selling your home in a hot market can be daunting, but they make it a seamless process.
Check out these additional resources…
Home Basics Loan Program: https://youtu.be/mtC3-LU5CPU
Market Update Data: https://gardner.utah.edu/wp-content/uploads/YearInCharts-Housing.pdf