Is the History of Our Market Bound to Repeat Itself?

Salt Lake City Real Estate Podcast with Justin Udy

Our market right now is seeing a lot of growth. But, does this growth point to potential issues on the horizon?

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Is history repeating itself? Right now, some people are worried about the state of our market. People are afraid that the extensive, fast growth we’ve seen over time is going to lead to the market bottoming out. I’ve witnessed some truly heartbreaking transactions in the past. I have even seen sellers weep at the closing table. But, is our market as scary as some think? Well, I look at a large quantity of information pertaining to real estate each and every day. There are so many economic factors that drive our market, and all of these factors are ones I closely examine all the time.

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The bottom line is that our current real estate market is still going strong.

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It is these same factors, which can cause issues, that can also cause a great deal of growth and opportunity. So if you’re concerned about our market, you may want to consider a few factors. Our market is not the same as it has been in the past. Current interest rates are phenomenal and lenders are being picky—they are making sure that buyers are truly responsible enough to move forward in a transaction. Another factor that is different about today’s market is that we’re seeing much more dynamic job growth these days. People are coming to our city for our jobs, culture, and amenities. The bottom line is that our current real estate market is still going strong. We are definitely in a healthy market. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.