A real estate professional explains that Utah's market has 6 months of supply, which indicates a correction rather than a crash, and that current financing requirements (requiring consistent income) differ significantly from the 2008 market, making it an optimal time for buyers to purchase properties.
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The Redhead realtor response to one of the biggest objections in real estate salesAñadido:
Utah real estate is about to crash. And that is what I hear from every single complainer in the real estate market.
And as a real estate professional, I look at the market and I study the fact that we have 6 months of supply on the market. That does not necessarily mean we're going in for a crash. We also own a ton of paid-off homes in Utah. So, it's a definitely an overstatement to say it's about to crash. And for sure an overstatement to say that we're going to have another '08 because in '08 it was easy to finance and you could finance if you had a heartbeat. And now, it's still incredibly difficult to finance if you don't have consistent income. So, the real estate market is not about to crash in Utah. It might have a market correction, but for buyers, that is the best time to buy because you can pick and choose the best deal in the valley.
So, hit me up and let's go out and look at some beautiful places. I'll talk to you guys soon. Have a great day.
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