Utah's Housing Market Today
A lot of investors are uneasy as our current market is shifting and rightfully so. I understand how the uncertainty of where the market is headed can make you feel.
With that being said, sellers are feeling the same way. They feel like they missed the "peak" of the market and are eager to sell.
Although Utah has seen quite a few price reductions, these price reductions are coming after only a week or two (which is not concerning to me, just shows how eager sellers are to sell their properties). The state still has below what is considered a "healthy" amount of homes on market. Meaning that supply is still below the demand we have.
Use this to your advantage! Buyers have negotiating power again (not total power but much more compared to the past couple of years). Offer at numbers that make sense for you as an investor, ask for seller credits, or terms that favor you. Submit offers and make this a numbers game.
For those of you who have been waiting for the market to slow down, this is your time! Make some offers and get property under contract.