5 Reasons the Daybreak Housing Market is HeatingUp
Sometimes you can get the best read on the condition of an industry, such as real estate, from inside the trenches. The housing market in Daybreak has continued to get stronger during the past several weeks. As a Daybreak Realtor, I've noticed new listings are hitting the market and there is plenty of buyer activity to keep things moving. Prices are also increasing and we are noticing that sellers are more in control of transactions in terms of concessions and repairs then they were in the slower winter months.
A report was just released within the last few weeks showing strong employment growth in the Utah economy. This combined with the continuation of low interest rates is giving buyers more confidence and boosting sales in the housing market. While we can tell real estate in Daybreak is improving just based on the increased activity, these are some statistics to back up our theory. Here are 5 Reasons the Daybreak Housing Market is Heating Up.
#1: New Household Formations
#2: Rising Rental Costs
#3: Housing Demand
#4: Price Increases
In fact, the President of the Salt Lake Board says, “There are more buyers than sellers. This is resulting in multiple offers, and in some cases offers coming in above asking prices.” We have also noticed this trend with our Daybreak Houses’ clients, and this situation has benefited a few of our sellers over the past month. Although the market is competitive, buyers shouldn’t feel discouraged. If you are a qualified buyer and realistic about the current market, it is still a great time to find a home within your price range. There are also many new listings to choose from this Spring that weren’t on the market over the past winter.
#5: Increase in New Home Building
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