Perception vs Reality

What is the #1 question we get asked right now? 

It’s a question you’ve probably been wondering as well… We are continually being asked what is happening in the real estate market RIGHT NOW.

It’s easy to read headlines and assume the information applies to us, here in our community, in our household. The truth is that not only are we each in unique phases and financial circumstances, but also that localized data can look very different than the regional & national reports. 

For example, let’s take a look at year over year sold home data in Utah for October 2021 & October 2022:

*Data from utahrealestate.com monthly reports

How do we interpret this data? 

Do we see 4th quarter 2022 thus far as a positive or a negative? Is the real estate market still a good place to invest, is it still better to buy than to rent?

The answer is that it depends…

It depends on your individual circumstances, combined with your local environment. It depends on whether you plan to stay long term in a primary residence or you’re looking to make a quick move. It depends if you need to offset taxes. It depends on if you are a cash buyer or a financed buyer. It depends on the stability of your income. It depends on the needs of your family. 

What now?

Buying and selling still makes a lot of sense for most people - it just requires individualized planning. Before you get caught in the cycle of assumptions, remember we are here to lead, guide & protect you. We have built a team of knowledgeable advisors, lenders, & market experts.