The 2021 Market Forecast Breakfast did not disappoint again this year. We are still trending to a favorable sellers market with low inventory and a focus on affordable housing. With low interest rates at play, buyers have greater purchasing power and are ready to move. One thing to consider, however, is that with interest rates reducing, taxes and insurance costs are rising with the cost of housing and that comes into play when talking about your monthly payment potential.
Ultimately, Utah is a great place to live and work and we found ourselves in the top spot for job growth. We also found a large 5-8% increase in home costs which we expect to repeat in 2021 as well as a 10% increase in the costs of townhomes and condos. 2021 Should make for a great year. As a seller your home should sell quickly and for top dollar. As a buyer, we need some strategies in place and ready to go so we can make sure you can buy that home in 2021!
Check out my recap over on youtube!