October 8, 2013

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Around Utah
Around Utah


The Home Stretch

Homebuyers and Investors are Competing for a Dwindling Housing Supply

By Gaylen Webb

October 8, 2013

He says that people are simply more optimistic about the housing market, making them more willing to get in
the game.

“A National Association of Realtors survey found that Americans are less fearful of falling home prices. Fear was holding people back. Now, only a quarter of respondents fear falling home prices compared to 40 percent two years ago,” he says. “When that fear factor gets down to 25 percent, we think that’s healthy. It shows Americans are confident overall—and perception becomes reality.”

In the current market, buyers need to be on the ball.

“I have been telling friends and family members, ‘If you are going to buy you’ve got to buy now,’” says Kirkham. “I don’t believe that market conditions as a whole will get any better. I don’t see how they could.” 

June home sales statewide were the best they’ve been in six years, with 3,916 homes sold— a 16 percent increase year over year.

Median home values have increased 17% year over year,  up from an average value of $181,550 in 2012 to $211,800 in 2013.




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