4 Reasons to Sell Your Utah Home in 2017
In the state of Utah, we have cultivated a warm, inviting culture that many people love to call home. With the incredible views and outdoor adventures Utah has to offer, those aren’t the only things that attract people to The Beehive State. People want to call Utah home because of the incredible healthy and strong economy, including the real estate market. If you have been wavering about if you should sell your Utah home, let Century 21 Gage Froerer & Associates give you 4 Reasons you should sell your home this year.
- Low mortgage rates. You may wonder why low mortgage rates are a good reason to sell your home, well it is because for buyers to buy you home, they need to be incentivized with a low mortgage rate. While rates are low, buyers are going to be motivated to buy now before rates creep any higher. Watch mortgage rates, because once they get to 5% or higher, buyers are going to be less inclined to pull the trigger and home values will decrease.
- Low inventory. In the state of Utah, inventory has drastically decreased. When inventory supply is low and there is a high demand it increases home value. This is a GREAT thing for sellers because you will have less competition and your home should sell for a great price and should sell quickly. In fact, 2017 home selling trends are the highest they have been in five years! Pending sales have increased 34.1 percent from a year ago, making now the ideal time to sell your home.
- Rising Home Prices. Because of high demand, home prices are going higher and higher. Home values will be going up 6-7% this year, according to Realtor.com, which makes selling a home enticing as you can acquire a higher value for your home.
- Job Security. In Utah, the unemployment rate is around 3.1% according to the State of Utah. With secure job markets, buyers are encouraged to purchase a home, which could turn out to be your home!
You may be worried that if you sell your home in this market you then turn around and become a buyer in this market. Don’t let that sway you away. Our agents have connections to the best lenders in Utah and will help you make the decision that is right for you. Call us today!
Century 21 Gage Froerer & Assoc. – Ogden
Century 21 Gage Froerer & Assoc. – Eden