Market of the Moment - 4/15/2022

[Alan Walker]

We are above 200 active homes in Salt Lake County under 700,000! 🎉🎉🎉

I say take the wins when you can. Interest rates rising don’t seem to have a big effect on the market right now. Mostly because supply is so low. If we were back up to a “normal” market, in the 500-700 active homes range, we could see the interest rates affecting the market.

There’s no doubt that some buyers are out of the game because of the high interest rates; however, the supply is so limited that the ones still in the game far outnumber the houses available. So its business as “usual” right now. Houses are going under contract quickly and most for well over asking price.

Two of my projects hit the market recently, both went under contract 50k+ over list price. Just crazy.

Has the American dream of buying a home become too unattainable for most folks in Utah? I sure hope not because I have that star spangled bikini I wear every year to the realtor BBQ, and I would hate to make a fool of myself...