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Utah County is slowly starting to rebound
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Sales are up since December when it was 20 degrees outside??? You can't make this stuff up.
We need to realize that even after the bottom is in, real estate prices won't increase much more beyond the rate of inflation (at most) for lots of years. This guys seems to know that.
Until housing inventory comes down I expect pricing to fall. There's still plenty of room to fall on homes $350K and above.
The article makes a point though.. Utah County has about a year and a half of housing inventory, and a lot of that are huge high end spec home McMansions that aren't affordable and will probably not be sellable for years... The Utah County economy is good, but the housing mix is out of whack.
Thanks for sharing that! I already knew all that but many don't. An honest broker...PRICELESS!!!
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"You'd better buy now. Prices will never be this good again!"
"Don't miss this chance. It is a buyers' market!"
"We've hit rock bottom. Prices are going up and you will be priced out of your dream home."
You can hear a realtor say these lines today or last year or 10 years ago.
Story never changes.