The Real Estate Market Is Still Hot

Real Estate Market Is Still Hot

Good news the St George Real Estate Market is still Hot. Real estate sales in St George are up 37% over the same time last year. Buyers are still a little cautious due to the uncertainty of the economy. That being said, 37% is a very large increase. Some people are worried that we may be entering a bubble like the one we have just recovered from. Those who have been in the industry watching the trends for years say that the growth that we are experiencing now is different from the terrible bubble that popped a few years ago. The country as a whole seems to be pulling out of deficit real estate values that left so many people in financial straits. The increase in real estate values is not being inflated by Wall Street, but more by true demand. When St George real estate values went south many builders stopped building, allowing demand to consume much of the inventory. This “market correction” was difficult for many people and the increases we see now are much more sustainable.

Going Forward

Of course no one has a crystal ball, nor can anyone guarantee what will happen going forward. It does seem like a great time to buy a home. The reason I say this is that interest rates are still historically low. Sure they have come up from the 3% levels of the past few months but, think back over the last 10-15 years about what the lowest interest rates have been. It used to be we were excited to refinance a house because the rates dropped into the 6% range. With rates in the St George Real Estate market still in the 4% range the timing could not be better. Inventory is still lower that it has been, but with every tick upward in the interest rate buyers choices will also be slipping away. What I mean is, if a buyer is qualified for a $200,000 home at 4.5% they may only be able to qualify for a $180,000 home at 5%. These figures are hypothetical, but illustrate the point I am trying to make.

In Summary

If you have been waiting on the sidelines for the real estate market to come back, it has. Some buyers wonder, “how come I miss all of the good deals”? It might because good deals are usually not easy to spot. Like anything, investing in, or purchasing real estate in the St George area is not easy for someone that only participates a few times in their life. Using a real estate professional may save you thousands. Since our main focus is the real estate market, and that is what we do every day, it makes sense to let us help you. Using an agent to help you buy a home is especially a no brainer, as the seller pays for our commission. So if you are looking for real estate in St George, Washington County , or Southern Utah in general give me a call I can help!

Real Estate St George

Real Estate St Goerge The Real Estate St George market continues to move forward, with home values moving upward, and interest rates still at historic levels it is a great time to get in the real estate game. The inventory in the St George Real Estate market has actually grown a little bit in the last few months. Available Real Estate St George properties listed in the Washington County MLS, is currently over 1700 units listed. This is up about 300 properties in the last 3 months. This growth in inventory in some cases can translate to lower prices for home buyers. While it may not be a true “buyers market”, there are more properties for sell now than the total listed a few months ago.

St George Real Estate

The St George Real Estate market has been heating up for the last year. Experts predict that the market is not a bubble the likes of which caused the crash of the real estate market a few years ago. The growth in the St George Real Estate market is expected to continue on a more consistent steady line upward. This type of growth is much more sustainable, than the drastic jump that actually contributed to the crash.The finger pointing is still going on as to what actually caused the crash, with everyone willingly to give their hypothesis about why it happened. Regardless of why it happened everyone agrees that it can’t happen again.

Real Estate In St George

Real Estate in St George ranges from condo’s and town homes, to palatial estates. The exciting fact about real estate in St George, is that you can enjoy appreciation on a $100,000condo or a 10,000 square foot home. Many people consider the St George Real Estate market as an investment in a resort community. This is due in part to all of the activities, and amenities that are available in our area. People looking for an investment opportunity should consider real estate in St George, and the entire Southern Utah Real Estate market as a great way to invest in their future.