Today’s Housing Market Has Only Half the Usual Inventory

Today’s Housing Market Has Only Half the Usual Inventory

Today’s Housing Market Has Only Half the Usual Inventory

Some Highlights

  • There are only about half the number of homes for sale compared to the last normal years in the market.
  • That means buyers don’t have enough options right now. So, if you work with an agent to list your house, it should be in the spotlight.
  • If you’re thinking of selling, let’s connect so your house can stand out while there’s such a shortage of supply and buyers are craving more options.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

Why You Need a True Expert in Today’s Housing Market

Why You Need a True Expert in Today’s Housing Market

Why You Need a True Expert in Today’s Housing Market

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process.

The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry projections, and more to give you the best possible advice. Someone who can provide clarity and trust like that is essential to your success. Jay Thompson, Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty for consumers. As Jason Lewris, Co-Founder and Chief Data Officer at Parclsays:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to help you separate fact from fiction and get the answers you need.

The right agent can assist you in figuring out what’s going on at the national level and in your local area. They can debunk headlines using data you can trust. Experts have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line

If you want sound advice and trusted information about our local housing market, let’s connect.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

People Want Less Expensive Homes – And Builders Are Responding

People Want Less Expensive Homes – And Builders Are Responding

People Want Less Expensive Homes – And Builders Are Responding

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.

People Are Spending Less on Newly Built Homes

The graph below uses the latest information from the Census to show, in June, more of the newly built home sales in this country were in lower price ranges than in 2022:Last year, only 58% of newly built home sales were less than $500,000. This June, that number was up to 65%. This means more people are buying less expensive newly built homes right now while affordability remains a challenge. 

Builders Are Offering Lower-Cost Options

Builders have picked up on this trend and are reacting accordingly. George Ratiu, Chief Economist at Keeping Current Mattersexplains:

“Builders are also responding to this shift by bringing slightly smaller homes to market in an effort to meet lower price points . . .”

New data from the Census further confirms this pattern – it shows the median sales price of newly built homes has dipped down in recent months (see graph below):And as Mikaela Arroyo, Director of the New Home Trends Institute at John Burns Real Estate Consultingsays, the builders who are most responsive to this trend are forming pathways to homeownership:

 “. . . it is creating opportunities for people to be able to afford an entry-level home in an area. . . . if you get that size down, that automatically will make it a more affordable home. The [builders] that are decreasing [size] the most are probably the ones that try to build more of an affordable product.”

 How an Agent Can Help

Builders producing smaller, less expensive newly built homes give you more affordable options at a time when that’s really needed. If you’re hoping to buy a home soon, partner with a local real estate agent to find out what’s available in your area. An agent can help you look at newly built homes or ones under construction nearby.

Bottom Line

If you’re having a hard time finding a home you like in your budget, let’s connect. You need a real estate professional who knows all about the latest inventory in our area, including homes still under construction or just built. That way you have an expert on your side who can provide information on builder reputations, builder contracts and negotiations, and more to help you with the homebuying process.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults

What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults

What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults

 
Welcome to the Utah Realty Blog Article where we delve into the reasons why Garden Park Town Homes in Daybreak South Jordan is an exceptional choice for 55 and older adults. As we venture into the golden years of our lives, finding the perfect place to call home becomes paramount. With its picturesque landscapes, close-knit community, and an array of amenities tailored to cater to the unique needs and preferences of older adults, Garden Park Town Homes shines as the epitome of senior living. Join us as we explore the delightful blend of comfort, convenience, and a vibrant lifestyle that makes Garden Park Town Homes the best place for those seeking an enriching and fulfilling retirement experience.

Convenient Location And Access To Essential Services

Nestled in the heart of Daybreak South Jordan, the Garden Park Town Homes offer a prime location for 55 and older adults seeking a vibrant community with an array of essential services. With its convenient location and easy access to nearby amenities, it comes as no surprise that Garden Park is hailed as the best place for active adults looking to enjoy a comfortable and fulfilling lifestyle.

One of the significant advantages of Garden Park Town Homes is its close proximity to a wide range of essential services. Within a short distance, residents can find an abundance of grocery stores, pharmacies, medical facilities, and recreational centers. This means that daily errands, healthcare appointments, and social activities are just a stone’s throw away, making life significantly easier for residents.

For those who enjoy the convenience of having groceries within reach, the townhomes are just minutes away from popular supermarkets and specialty stores. Whether it’s picking up fresh produce for home-cooked meals or running out for last-minute ingredients, residents can make quick visits to nearby grocery stores whenever the need arises.

Furthermore, having pharmacies and medical facilities nearby is of great importance to older adults. Garden Park Town Homes are conveniently located near a variety of medical services, including clinics, hospitals, and pharmacies. This ensures that residents have quick and easy access to healthcare professionals and emergency medical services, giving them peace of mind knowing that assistance is readily available if needed.

A vital aspect of any community is providing opportunities for seniors to engage in recreational activities and maintain an active lifestyle. Garden Park Town Homes excel in this area as well, as they are strategically located near a plethora of recreational centers and parks. This includes access to walking trails, fitness centers, swimming pools, and golf courses, allowing residents to enjoy various physical activities without having to travel far.

Additionally, the close proximity to cultural and entertainment venues provides residents with easy access to local theaters, art galleries, and community events. This ensures that residents can indulge in the cultural scene and enjoy a wide range of activities and entertainment options just a stone’s throw away from home.

Transportation options and accessibility are also key considerations for older adults. Garden Park Town Homes offer easy access to public transportation networks, major highways, and thoroughfares, making it effortless for residents to navigate the surrounding areas or travel to neighboring cities. This convenience allows residents to maintain their independence and explore a multitude of destinations with ease.

In conclusion, the Garden Park Town Homes in Daybreak South Jordan provide a convenient location and easy access to essential services, making it the ideal choice for 55 and older adults. With proximity to grocery stores, pharmacies, medical facilities, recreational centers, and transportation networks, residents can enjoy a comfortable and hassle-free lifestyle. The convenience of having everything within reach allows older adults to focus on what matters most – living their best life in a vibrant community designed for their needs.

Community Amenities And Activities Designed For Active Adults

Garden Park Town Homes in Daybreak South Jordan is more than just a place to live. It is a vibrant community that offers a wide range of amenities and activities specifically designed to cater to the lifestyle of active adults aged 55 and older. From recreational facilities to social events, Garden Park Town Homes provides a fulfilling and enriching living experience.

One of the standout features of Garden Park Town Homes is the access to a variety of top-notch amenities that promote an active and healthy lifestyle. The community boasts a state-of-the-art fitness center, equipped with modern exercise equipment, allowing residents to engage in regular workouts without having to leave the comfort of their neighborhood. Staying fit and active is made easy with dedicated spaces for aerobics, yoga, and strength training.

For those who prefer outdoor activities, Garden Park Town Homes offers beautifully landscaped walking trails, perfect for a leisurely stroll or a brisk morning jog. The community also features tennis courts and pickleball courts, providing residents with opportunities to engage in friendly competition and enjoy the company of neighbors who share similar interests.

In addition to the various physical activities, Garden Park Town Homes hosts a multitude of social events and recreational activities, fostering a sense of community and creating opportunities for like-minded residents to interact and forge lasting friendships. The community has a spacious clubhouse with multipurpose rooms for community gatherings, parties, and events. This serves as a hub for socializing and meeting fellow residents, offering a perfect setting for book clubs, card games, hobby groups, and organized activities.

Residents of Garden Park Town Homes also have access to an on-site swimming pool and hot tub, ideal for relaxation and unwinding after a busy day. It serves as a central gathering point during the summer months, providing ample opportunities for residents to enjoy the sunshine, take a refreshing swim, or simply lounge by the poolside.

Furthermore, the community understands the importance of intellectual and lifelong learning. Garden Park Town Homes offers a variety of educational programs, including guest speakers, workshops, and classes on topics ranging from art and music to technology and finance. These programs not only provide residents with the opportunity to expand their knowledge but also encourage personal growth and creativity.

What sets Garden Park Town Homes apart is the way it caters to the preferences and interests of its residents. The community actively seeks feedback from residents and encourages their input to tailor amenities and activities to their needs. This ensures that the offerings are diverse and constantly evolving, ensuring there is always something for everyone.

Living in Garden Park Town Homes means enjoying a vibrant and engaging lifestyle that encourages physical, social, and intellectual well-being. It is a place where active adults can thrive, surrounded by a welcoming community that values their unique interests and desires. With an abundance of amenities and activities designed specifically for them, Garden Park Town Homes truly stands out as the best place for 55 and older adults in Daybreak South Jordan.

Thoughtfully Designed And Low-Maintenance Homes

Located in the heart of Daybreak, South Jordan, Garden Park Town Homes offers a haven of tranquility and comfort for the active 55 and older adults. With its thoughtfully designed and low-maintenance homes, this unique community has become the top choice for those seeking a stress-free and vibrant lifestyle. Let’s explore the reasons why these homes truly stand out.

1. Functional and Well-Designed Layouts: Garden Park Town Homes have been meticulously crafted to maximize space and functionality. The open floor plans create a seamless flow between rooms, allowing for easy movement and accessibility. The spacious living areas are perfect for hosting family and friends, while the well-appointed kitchens offer ample counter space and storage options. These thoughtfully designed layouts ensure that residents can continue to enjoy their daily activities with ease and comfort.

2. Modern Amenities for Convenience: Living in Garden Park Town Homes means having access to a wide range of modern amenities, carefully curated to enhance the quality of life for older adults. From fitness centers to walking trails and community gardens, there is something for everyone. The on-site clubhouse serves as a hub for social gatherings and activities, fostering a sense of community among residents. Additionally, the availability of elevators and ramps ensures that residents with mobility concerns can navigate the community effortlessly.

3. Low-Maintenance Living: One of the greatest advantages of choosing Garden Park Town Homes is the low-maintenance lifestyle it offers. As we age, the desire for hassle-free living becomes increasingly important. These homes are designed with this in mind, featuring maintenance-free exteriors and landscaping. Say goodbye to the tedious tasks of mowing lawns, shoveling snow, and maintaining gardens. Instead, residents can spend their time doing the things they love, while the community’s dedicated staff takes care of the upkeep, ensuring a stress-free living experience.

4. Proximity to Everyday Amenities: Garden Park Town Homes is conveniently located near a plethora of everyday amenities. Within Daybreak, residents can enjoy easy access to grocery stores, medical facilities, pharmacies, and banks, making life more convenient and efficient. Additionally, the community’s central location allows residents to explore the South Jordan area and enjoy its vibrant dining, shopping, and entertainment options.

5. Active and Engaging Lifestyle: Garden Park Town Homes is committed to fostering an environment that encourages an active and engaging lifestyle for its residents. The community offers a variety of organized activities and events, catering to diverse interests and hobbies. Whether it is attending fitness classes, participating in book clubs, or joining social gatherings, residents have ample opportunities to immerse themselves in a vibrant community, connect with like-minded individuals, and create lasting friendships.

In conclusion, Garden Park Town Homes in Daybreak, South Jordan, is the ideal place for active 55 and older adults seeking a thoughtful and low-maintenance living experience. With functional and well-designed layouts, modern amenities, low-maintenance living, proximity to everyday amenities, and an engaging lifestyle, residents can truly embrace a fulfilling and stress-free lifestyle. Garden Park Town Homes is not just a place to live, but a community that fosters a sense of belonging and offers endless opportunities for residents to enjoy life to the fullest.

Supportive And Engaged Community For 55 And Older Adults

As we reach our golden years, finding the perfect community that offers a supportive and engaged environment becomes increasingly vital. Garden Park Town Homes in Daybreak South Jordan stands out as the epitome of a vibrant and enriching place for 55 and older adults. With a welcoming community, numerous amenities, and a range of activities catered specifically for this age group, Garden Park Town Homes is undeniably the best place for seniors to call home.

One of the most remarkable aspects of Garden Park Town Homes is the sense of community it fosters. Living alongside like-minded individuals who share similar values and life experiences creates an immediate sense of belonging. The residents here are known for their friendly nature and willingness to lend a helping hand, creating a supportive network that enhances the overall quality of life. Whether it’s organizing social events, coordinating group outings, or simply enjoying a conversation in the common areas, the strong sense of camaraderie at Garden Park Town Homes is truly unparalleled.

Furthermore, the community at Garden Park Town Homes is dedicated to ensuring residents remain engaged and fulfilled throughout their retirement years. A wide array of activities and programs are available, catering to a variety of interests and passions. From fitness classes and book clubs to art workshops and game nights, there is always something happening that sparks joy and curiosity. Engaging in these activities not only promotes physical and mental well-being but also provides ample opportunities for building new friendships and discovering fresh hobbies in a supportive environment.

The amenities at Garden Park Town Homes are equally exceptional. The shared spaces are meticulously designed with the needs and comfort of seniors in mind. The community clubhouse serves as a hub for social gatherings and events, boasting comfortable seating areas, a fireplace, and a full-catering kitchen. It is the perfect place to host family and friends or to socialize with fellow residents. The well-maintained grounds offer tranquil walking paths, beautiful gardens, and even an outdoor pool. These amenities provide a serene and relaxing atmosphere, allowing residents to enjoy the outdoors and maintain an active lifestyle.

Additionally, Garden Park Town Homes prioritizes convenience and accessibility for its residents. The townhome-style living provides privacy while eliminating the burdens of exterior maintenance, lawn care, and snow removal. This allows residents to focus on enjoying their retirement to the fullest without worrying about the hassles of homeownership. The location of Garden Park Town Homes within the Daybreak community offers easy access to shopping centers, medical facilities, and recreational areas, further enhancing the convenience and comfort of this community.

In conclusion, Garden Park Town Homes in Daybreak South Jordan truly stands out as the best place for 55 and older adults to call home. The supportive and engaged community promotes a strong sense of belonging and creates opportunities for lasting friendships. The extensive range of activities, amenities, and conveniences provided ensure that residents can lead a fulfilling and active lifestyle in their retirement years. Garden Park Town Homes offers a haven where seniors can thrive, creating memories and enjoying a truly rewarding chapter of their lives. Some Photos courtesy of 55places.com

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

About 11,000 Houses Will Sell In The USA Today

About 11,000 Houses Will Sell In The USA Today

About 11,000 Houses Will Sell Today

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.

According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

  • 4.16 million homes divided by 365 days in a year = 11,397 houses sell each day
  • 11,397 divided by 24 hours in a day = 475 houses sell per hour
  • 475 divided by 60 minutes in an hour = about 8 houses sell each minute

So, on average, about 11,000 homes sell each day in this country.

A real estate expert can give you more information about how many houses are being sold in your neighborhood, the amazing advantages that sellers are experiencing right now, and the most important things buyers are searching for in your area. Together you’ll use this knowledge to shape how you market your house based on local trends.

Bottom Line

If you’ve been waiting to sell because you don’t think there are buyers out there, know today’s market is active. Every day you wait, around 11,000 other homeowners are selling. In the time it took you to read this, eight homes sold. When you’re ready to sell too, let’s connect.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

There’s Only Half the Inventory of a Normal Housing Market Today

There’s Only Half the Inventory of a Normal Housing Market Today

There’s Only Half the Inventory of a Normal Housing Market Today

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective:

As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was already considered low at that time. But, if you look further back, you’ll see inventory is down even more significantly.

To gauge just how far off from normal today’s inventory is, let’s compare right now to 2019 (the last normal year in the market). When you compare the same week this year with the matching week in 2019, supply is about 50% lower. That means there are half the homes for sale now than there’d usually be.

The key takeaway? We’re still nowhere near what’s considered a balanced market. There’s plenty of demand for your house because there just aren’t enough homes to go around. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

So, if you want to list your house, know that there’s only about half the inventory there’d usually be in a more normal year. That means your house will be in the spotlight if you sell now and you may see multiple offers and a fast home sale.

Bottom Line

With the number of homes for sale roughly half of what there’d usually be in a more normal year, you can rest assured there’s demand for your house. If you want to sell, let’s connect now so your house can shine above the rest while inventory is so low.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

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