2018 REAL ESTATE MARKET UPDATE

WHAT LINDA SECRIST & ASSOCIATES SAY ABOUT THE 2018 HOUSING FORECAST
2018- Millennials favor homeownership: Millennials are the largest living generation and Pew Research notes that their households dominate the ranks of the nation’s renters compared with previous generations. As the generation matures (the oldest are at 34 years of age), seventy-two percent wish to become homeowners.
2018- Demand is outpacing supply: According to Freddie Mac research, the hurricane season that hit the southern and eastern coastal areas is exacerbating a market already short on homes. Additionally, home prices are predicted to rise 4.9 percent nationally.
2018- Unemployment remains low: The unemployment rate remains at a low 4.2 percent, according to the U.S. Bureau of Labor Statistics. Due to this, many buyers have the income needed to shop for homes.
2018- New home construction lags demand: “New construction is receiving a boost by low mortgage rates, an ongoing shortage in existing homes for sale, and solid builder confidence,” says Robert Dietz, Chief Economist with the National Association of Home Builders. Currently home builders are struggling to meet the demand for new homes, according to the U.S. Census. Nationally, there is currently a five month supply at today’s rate of sales.
2018- Mortgage rates drop under four percent: Nationally, the average interest rates on conventional purchase-money mortgages decreased in the fall to less than four percent, reported the Federal Housing Finance Agency.
Market conditions suggest near-term winter and spring home buying will remain brisk in 2018. We expect an increase in spring buyer activity which will continue throughout the summer.
Home Selling Tips
REASONS TO SELL IN THE WINTER INSTEAD OF WAITING FOR SPRING:

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Linda Secrist & Associates are the top selling team in luxury homes in the SLC Market. They have received countless awards over the past 20 years, including “Sales Team of The Year” for over 10 years! Linda Secrist is in the top 100 Agents in the World in luxury residential real estate. If you’re searching for homes in Sandy, Salt Lake, Cottonwood Heights, Millcreek, Draper, South Jordan, Bountiful, Centerville, Farmington or anywhere in northern Utah, Linda Secrist & Associates are the real estate agents to call. If you’re buying or selling a home, don’t hesitate to text or call us at 801-455-9999!#mcm #wcw #utahhomesforsale #openhouse #homebuying #utahluxuryhomes #buyahome #homebuyer #utahrealestate #utahrealtor #no1realestateagent #homesforsaleinutah #bestrealtor #skiutah #utahlistings #mlslistings #skiutah #funthingstodoinutah #relocatetoutah #thegreatestsnowonearth #utahskiresorts #worldclassskiresorts #utaheconomy #utahinvestments #stagingyourhome #villasatdimpledell #searchutahhomes #luxuryhomesforsaleinutah #mainfloormaster #homesforsaleinsandyUT #homesforsaleinpepperwood #sharethewarmth #searchutahhomes

