Utah Real Esatate Alex1

This year and interest rates 🎄🎁

We had an amazing summer and we’ve busier than over. Our team got the privilege to work with over 20 clients this year and we managed to do 4 remodels and pick up some rentals as well. It’s always a huge pleasure to get the whole team together and work on tangible products. We love seeing something come together and deliver a quality product to someone who is looking for quality in their home.

This year and interest rates 🎄🎁 1

Last year going into the winter we had some uncertainty the rates hit us faster than ever and an increase from 3% to 7% was shocking. We didn’t know what to make of it or who to blame; and we all know there was plenty of that going around. Luckily January came around and the market picked right up like it was nothing. Surprisingly enough the pricing of houses has stayed pretty strong through spring summer and fall even with rates in 6% – 7% we were still buying and selling homes.

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Hoping everyone had a beautiful year amazing Christmas and will have a phenomenal year. With the coming New Year we’ve been seeing gas prices come down and rates as well. The Fed has left the rates unchanged the last two meetings and looks like were curbing inflation. Something we got coming up in this year is the 2024 Election. I’ve noticed they often bring the prices down during these times to show whats being accomplished. Hopefully theres is some sustenance to it. We would LOVE to see gas prices in the mid $2’s and rates in the 4-5% rate. If it’s one thing I have learned to appreciate is the resilience of this country. I’m a true believer in the people and their resolve. I think everything will stabilize and we’ll keep the cycle of growth and opportunity going.

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One thing I would reflect on is the prices of houses staying pretty steady even with the higher rates. What that means is NOW is a perfect opportunity buy a house and refinance later once the rates come down. Because if the rates come down the prices on homes will rise again. If you need help with buying or selling your house reach out to us and lets see what we can figure out.

Thank you.

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