Market of the Moment - 5/13/2022

[Alan Walker]

Friday the 13th, oooooooooo spooky! You know what isn’t spooky? HAVING MORE INVENTORY. We are approaching 400 homes on the market in Salt Lake County under 700,000. Considering we were under 200 earlier this year, that is something to celebrate if you are a buyer. My experience with my last couple of listings (I usually list 2-3 houses per month) is that we are getting less offers but the winning offers are still very strong.

I see some buyers thinking now is the time to dial back their offers or make them less bulletproof. I think that’s a mistake because while less offers are being made, the offers being accepted are still the stronger offers with appraisal gaps, non-refundable earnest money and quick timelines.

We still have people with urgency that are willing to snap up those house, so its no walk in the park but I think we are somewhere between a power walk and a light jog. In either of those scenarios, picture me wearing leggings and an off-the-shoulder sweatshirt.

Aaaaaand, now you can’t get that image out of your mind.

You’re welcome!