Salt Lake City housing market on the upswing

Salt Lake City housing market on the upswing
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The housing market is muvin’ on up! As some of our readers may remember, after the bubble burst about five years ago, housing in this country just took an absolute nosedive. Prices bottomed out, foreclosures skyrocketed, cats and dogs living together – mass hysteria! But the market has been taking some big steps forward this year and things are finally looking like they’re going to start getting back to normal, which is especially good news for first time home buyers.

According to our local newspaper The Salt Lake Tribune, the housing market in SLC has been on an uptick lately, thanks to growing prices and transactions on homes for sale in the area. New homes are being built every day, which, when coupled with increases in mortgage lending, gives buyers a greater degree of choice and freedom in purchasing a new house.

“We’re back to a normal world now,” Dave Frederickson, the Salt Lake Board of Realtors’ president, told the source. “It’s that pendulum finding the sweet spot again.”

Over the summer, homes in Salt Lake City were practically flying off the shelves. That crazy amount of home sales has slowed down a bit, but it’s all good – it just means that buyers are looking to take a little more time before making their decision. And that’s completely fair – buying a house is a big milestone and our philosophy at Muve Real Estate is that we want customers to be completely satisfied with their choice. Besides, the numbers still look good, with sales for this year’s third quarter almost 6 percent better than the same time in 2012.

First time buyers looking to pick up some sweet Salt Lake City real estate, now is the time to act! Let an agent at Muve help you get started.