Utah Real Estate Market Report

Have you noticed that real estate stories aren’t in the news lately?  That probably means that No News = Good News.  The local real estate market is very healthy, and now is a very good time to look at your options.  Home values are up and interest rates are low.  Utah home builders are building again.  It’s a great time to call your REALTOR at Washburn Real Estate to find homes for sale in Utah County.

Utah Real Estate Market Report 5.7.14

Market Projection

So how exactly is the market doing?  I like the view from 30,000 feet.  The big picture.  The real trends.  As you can see, homes appreciated at a steady rate from 1996 to about 2005.  Then markets went crazy with interest rates and easy loan programs.  In 2008, there was a major correction.  The crash.  We hit rock bottom in 2012, but in just two years, we have nearly completely recovered.  If you look at the last 3 data points on the chart, it looks like we might be in a down turn.  I don’t think this is the case at all.  Real estate sales are cyclical every year.  With current available inventory way down and demand up, I wouldn’t be surprised to see a full recovery very soon, if not this year.

What is your home worth?

What is your home worth?  You might be surprised at how much your home is worth!  Interest rates are still very low.  30 year rates on FHA are at 3.75%, and conforming conventional loans are at 4.25%.  Inventory for homes for sale in Utah County is low.  Let us give you a free Comparative Market Analysis.

Do you know anybody who is looking to buy or sell?

It’s a fantastic market.  Give us a call!  Jeremy Washburn and Washburn Real Estate look forward to working for you.