I know you know this, and I know this, but the media doesn't seem to get this...
Fewer housing starts are a good thing!
(Well, at least for now.)
Remember how builders overbuilt and there was a glut of inventory on the marketplace?
Remember how builders were offering the craziest incentives rather than lower their asking prices?
Remember how appreciation all but ceased as thousands of overpriced homes sat on the market?
Well, it would appear that the excess inventory in the Salt Lake Real Estate marketplace is shrinking. Both existing and new construction.
The fact that builders have slowed production will only help the housing values as supply shrinks back to meet the demand. If builders were still building at the paces they had been over the past 3 years, I would be very concerned.
It appears that Salt Lake's market is still taking the appropriate steps to avoid a drop in housing values, and that includes slowing down new construction and letting the supply shrink back to the level of the demand.
For home owners, this is good because we won't overinflate.
For those who will be purchasing soon, this is good because they will be buying into a stable market.
If you are planning on purchasing a home, make sure you get an Agent on YOUR side of the transaction!
If you have excellent credit and will be buying a $250,000-$750,000 home in the next 30-60 days and would like an agent who will work exclusively for you, call us at (801) 969-8989 or contact us via the link on this page.
©2008 Homebuyer Representation, Inc. "The Real Estate Agents on the Buyer's Side" ™ Exclusive Buyers Agents (EBA) - All Rights Reserved
Exclusive Buyer Brokerages do not list homes and never represent Sellers. Their agents represent Buyers ONLY on the Buyer's side of the transaction. They work to get BUYERS the Best Price and Terms when they Buy...
©2008 Homebuyer Representation, Inc. - Salt Lake City, UT
Exclusive Buyers Agents (EBA) - All Rights Reserved