Is the Utah Housing Market Cooling Down?

Cooler temperatures means a cooler housing market right? Sort of, but not quite. According to new data, home sales have slowed down ever so slightly. Multiple-offer situations aren't as frequent and we are finally starting to see housing supply tick upward. Inventory is on the rise but compared to previous years, the overall supply is still very low. So what does this mean? Here are our key takeaways:

  • 2021 is still on pace to be the second best year for home sales in state history.
  • Home prices are still high, but with less competition, buyers will have more room for opportunity and negotiation. 
  • Because the market is still competitive, sellers can still anticipate getting top dollar for their homes.

If you have any questions about current market conditions, don't hesitate to ask!

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