Market of the Moment - 10/29/2021

[Alan Walker]

October started “slow” but has picked right back up. Our available houses in Salt Lake County is under 450! Days on market between 3-5. I can see people submitting offers on Thanksgiving Day and Christmas if it gives them a leg up. Sorry Aunt Dorothy, you can’t see our kids this year, we’re trying to buy a house…
As someone that flips homes, I usually wait until December to buy homes that will hit in the spring. Instead, I am closing on two more homes next week because we just don’t have enough homes for people to buy.
This market is like a Scorpio; I would know, today is my birthday. It's caliente (low inventory) with lots of energy (buyers), but just when you get comfortable, that tail (median home price) comes out and strikes!