New year, new economy – that’s what the experts are saying anyway. While the numbers may tell us we’ve been out of the recession for a couple years now, it sure hasn’t felt that way for a lot of people. Slow job creation, lagging home sales and expensive costs of living have made the whole post-recession time almost as hard as the recession itself! Luckily, the economy turned a big corner in 2013, with more people gaining jobs and new homes for sale being put out into the housing market. This year promises to be even better, especially for those living in Salt Lake City and all over Utah.
According to The Salt Lake Tribune, real estate in Utah was booming last year, with housing prices jumping up by nearly 15 percent! The market rebounded in a huge way, sending homes flying off the shelves left and right.
“Things were so affordable that people said, ‘I have to buy,'” Ryan Kirham, the Utah Association of Realtors’ vice president, told the news outlet. “[This year] I think we’re expecting a little more balance – a healthy, stable market.”
Which is a good thing! Especially for any buyers out there worried about housing becoming too expensive. While it’s true that mortgage rates are going up, so is inventory. With more available houses in Salt Lake City to choose from, prices will begin to even out, ensuring fair play for both buyers and sellers.
Looking to get back into the housing market this year? Muve Real Estate Group is here to help! Our team of Salt Lake City realtors can you show around town and spotlight all the best, most affordable homes perfect for you and your family.