The Sun Is Shining on Sellers This Summer

The Sun Is Shining on Sellers This Summer

The Sun Is Shining on Sellers This Summer

No Caption Received

Some Highlights

  • If your needs have changed, now’s a great time to sell and get the features you want most.
  • Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher final sales price, and more.
  • If you want to get your house ready for a summer listing, 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! 

 

 

How Buying or Selling a Home Benefits Your Community

How Buying or Selling a Home Benefits Your Community

How Buying or Selling a Home Benefits Your Community

If you’re thinking of buying or selling a house, it’s important to know it doesn’t just impact you—it helps out the local economy and your community, too.

Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below):

No Caption Received

When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community:

“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”

It makes sense that housing creates a lot of jobs because so many different kinds of work are involved in the industry.

Think about all the people involved with selling a house—city officials, contractors, lawyers, real estate agents, specialists, etc. Everyone has a job to do to make your deal go through. So, each transaction is a big help to those who work and live in your community.

Put simply, when you buy or sell a home, you’re helping out your neighbors. So, when you decide to move, you’re not just meeting your own needs—you’re also doing something good for your community. Just knowing your move helps so many people around you can give you a sense of empowerment as you make your decision this year.

Bottom Line

Every time a home is sold, it really helps out the local economy. If you’re ready to move, let’s get in touch. It won’t just change your life—it’ll also do a lot of good for the whole community.

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! 

 

 

Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have a big impact on housing. That’s because it would create a whole lot more competition for smaller homes and would throw off the balance of supply and demand, which ultimately would impact home prices.

But here’s the thing. There are a couple of faults in that logic. Let’s break them down and put your mind at ease.

Not All Baby Boomers Plan To Move

For starters, plenty of baby boomers don’t plan on moving at all. A study from the AARP says more than half of adults aged 65 and older want to stay in their homes and not move as they age (see graph below):

a pie chart with text

While it’s true circumstances may change and some people who don’t plan to move (the red in the chart above) may realize they need to down the road, the vast majority are counting on aging in place.

As for those who stay put, they’ll likely modify their homes as their needs change over time. And when updating their existing home won’t work, some will buy a second home and keep their original one as an investment to fuel generational wealth for their loved ones. As an article from Inman explains:

“Many boomers have no desire to retire fully and take up less space . . . Many will modify their current home, and the wealthiest will opt to have multiple homes.”

Even Those Who Do Move Won’t Do It All at Once

While not all baby boomers are looking to sell their homes and move – the ones who do won’t all do it at the same time. Instead, it’ll happen slowly over many years. As Freddie Mac says:

We forecast the ‘tsunami’ will be more like a tide, bringing a gradual exit of 9.2 million Boomers by 2035 . . .”

As Mark Fleming, Chief Economist at First Americansays:

Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they’re going to take about two decades to work their way through.”

Bottom Line

If you’re stressed about a Silver Tsunami shaking the housing market overnight, don’t be. Baby boomers will move slowly over a much longer period of time.

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! 

 

 

Short list of things that you must get rid of before moving

Short list of things that you must get rid of before moving

Embarking on a new chapter of your life by relocating to a different home can be an exciting yet daunting process. The key to ensuring a smooth and stress-free move lies in effective preparation and organization, of which a critical component is the pre-move purge. This process not only helps in decreasing the load but also in streamlining the entire moving experience. In this blog post, we delve into the essential art of decluttering, highlighting the four pivotal categories of items you need to consider letting go of before your move. By adhering to these guidelines, you can significantly enhance the efficiency of your transition, making it a more manageable and less cumbersome endeavor.

Forgotten Items In Storage: Evaluating What’s Worth Keeping

The first category of items that often hinder a seamless move involves those long-forgotten possessions tucked away in storage areas such as attics, basements, and garages. These spaces tend to accumulate things that were once deemed too valuable to discard but are rarely, if ever, used. The irony is that the emotional or financial value we attach to these items can diminish over time, yet they continue to occupy valuable space, complicating the moving process. The key to deciding what’s worth keeping lies in a thorough and honest evaluation. One effective method is to ask yourself if the item has been used or appreciated in the last year. If the answer is no, it’s likely that it won’t be missed once it’s gone. Further, consider if the item holds any practical use in your future home or if it’s merely holding onto memories that can be preserved in other, less space-consuming ways.

Creating an inventory of these items can also streamline the decision process. Documenting each item forces you to assess its presence in your life critically. Is it something that can be replaced if absolutely necessary, or is it irreplaceable yet unused? For items of sentimental value, think about digitizing them if possible. Photos of children’s artwork, for instance, can be kept infinitely in digital form without taking up physical space. For everything else, consider the cost—both in terms of monetary value and the space it occupies—against its actual utility and sentimental worth. Items that do not make the cut should be sold, donated, or recycled whenever possible, setting a standard for a clutter-free move. Transitioning to a new living space offers a unique opportunity to reassess what belongings truly add value to your life and to let go of the rest, ensuring a smoother and more efficient moving process.

By meticulously evaluating each item’s worth, you make room for a new chapter in your life that isn’t weighed down by the past. This not only facilitates a smoother move but also fosters a minimalist approach that can lead to a more organized and serene living environment. Remember, the goal is to transition to your new home with belongings that complement your current lifestyle and aspirations, not those that tether you to outdated sentiments or clutter.

Unnecessary Clutter: Identifying And Discarding

When embarking on the journey of moving, one of the first steps to ensure a fluid process is to identify and discard unnecessary clutter. This exercise is not merely about reducing the volume of items to be moved; it is about making a conscious choice to let go of things that no longer serve a purpose or bring joy into your life. The key to this endeavor is to adopt a methodical approach by categorizing items into what is essential, what can be donated, what can be sold, and what should be recycled or disposed of. This not only simplifies the moving process but also sets the stage for a more organized and serene environment in your new abode.

The task of decluttering can often seem overwhelming, yet breaking it down into manageable sections can facilitate a more efficient process. Begin with areas that commonly accumulate the most unnecessary items, such as closets, storage rooms, and garages. By tackling one category at a time, such as clothes followed by books, and then electronic gadgets, it becomes easier to make decisive judgments on what truly merits a place in your life and moving boxes. Engaging in this purge well ahead of your move date alleviates the pressure and allows for a more thoughtful and deliberate selection of what accompanies you to your new home. Furthermore, the act of decluttering can be incredibly liberating, as it not only frees up physical space but also fosters a sense of psychological release, paving the way for new beginnings.

Bulky Furniture: Deciding Between Moving And Selling

When tackling the challenge of a move, one of the most significant decisions you’ll face involves your bulky furniture. These pieces, often the most cherished or expensive items in our homes, can add considerably to moving costs and logistics complications. The choice between moving and selling such items necessitates a careful evaluation of several factors. First, consider the sentimental and monetary value of each piece against the cost and effort required to transport it. Antique furnishings or heirloom pieces with emotional value might be irreplaceable, justifying the extra expense. Conversely, items easily replaceable or not fitting the new home’s aesthetic might be better sold or donated.

The dimensions and layout of your new home play a crucial role in this decision-making process. Bulky furniture that served you well in your current space may not be as functional or aesthetically pleasing in a new environment with different dimensions or a divergent style. Before making a decision, measure doorways, staircases, and rooms in your new home to ensure large items can be moved in and will fit in the designated spaces. Selling bulky items that won’t fit or complement your new space can not only simplify your moving process but also contribute financially to purchasing replacements more suited to your new surroundings. This not only eases the physical and financial strain of moving but also offers an exciting opportunity to refresh your living space’s design and functionality.

Duplicate Household Items: Streamlining For Efficiency

One of the foremost categories to address during a pre-move purge is the assortment of duplicate household items cluttering your living spaces. Oftentimes, these redundancies accumulate unnoticeably over the years—resulting in multiple sets of kitchen utensils, a plethora of identical linens, or even several versions of the same electronic device. The rationale for retaining these duplicates varies, from holding onto them as backups to simply not recognizing their excessive presence. However, when preparing for a move, streamlining your belongings becomes crucial. Eliminating these duplicates can significantly reduce the volume of items needing transport, thereby not only lowering moving costs but also minimizing the unpacking challenges at your new residence. Moreover, this streamlining process presents an ideal opportunity to reassess the utility of each item, ensuring that only those of genuine value or necessity accompany you, thereby enhancing the efficiency of your living space.

To effectively purge these duplicate items, start by grouping similar items together to fully assess what you have. This visibility often highlights the extent of the redundancy and can be a motivating factor in the decision-making process. When evaluating these items, consider their condition, frequency of use, and sentimental value. Items in good condition that are no longer needed can be sold or donated, offering a way to declutter responsibly. By focusing on quality over quantity, you can retain the most beneficial and beloved items while leaving behind the excess. This not only simplifies the packing and moving process but also paves the way for a more organized and streamlined setup in your new home. Prioritizing efficiency in this way not only aids in the physical relocation but also contributes to a mental unburdening, making the move a more enjoyable and less stressful experience.

Boxes of paper Items

In the milieu of packing and sorting through belongings, boxes of paper items often go underestimated in their ability to complicate a move. These can include old bills, receipts, personal letters, greeting cards, manuals, and even outdated paperwork that no longer serves a purpose. The sentimentality attached to personal letters and cards can make them challenging to part with; however, digitizing these items can preserve the memories without the physical clutter. For the rest of the paper clutter, a discerning look to differentiate between what’s crucial and what’s expendable is essential. Important documents should be neatly organized and stored in clearly labeled folders. In contrast, unnecessary paper clutter—a notorious space-eater and weight-adder to moving boxes—should be responsibly recycled or shredded. This not only streamlines the moving process but also sets a precedent for a more organized and clutter-free environment in the new space.

Adopting a systematic approach to decluttering paper items can yield significant benefits. Start by setting aside a dedicated time to go through each paper-related item thoroughly. Divide them into categories such as ‘Keep,’ ‘Shred,’ and ‘Recycle.’ For sensitive documents, ensuring proper disposal through shredding is paramount to prevent identity theft or information leakage. Utilizing apps and cloud storage for documents that can be digitized not only frees physical space but also ensures easy access to important documents at any time and from anywhere. This methodical purge of paper items decreases the volume of belongings to be moved and can significantly reduce moving costs. It’s a step towards a minimalist lifestyle, encouraging one to evaluate the necessity of physical possessions and the transient nature of paper-based clutter. By letting go of the excess, individuals can embrace a smoother transition to their new home, making the move less about the baggage of the past and more about the excitement for the future.

Clothing you haven’t worn lately

When considering a move, a pivotal area to focus on is your wardrobe. Clothing can easily accumulate over years, leading to clutter and excess that only complicates the packing process. It’s imperative to take a discerning eye to your clothes, identifying items that haven’t been worn in the last year. The rationale behind this is straightforward; if you haven’t found an occasion for an item within this timeframe, it’s unlikely you will in the future. This process not only helps in reducing the volume of belongings to move but also in decluttering your life and making room for items that truly add value.

Moreover, this purge serves a dual purpose. On one hand, it streamlines the moving process by lightening your load, potentially saving on moving costs and reducing the time and energy required to pack and unpack. On the other hand, it brings forth an opportunity for generosity. Clothing in good condition that no longer serves you can find new life with someone in need. Donating such items to charity or giving them to friends not only aids in your moving process but also contributes positively to your community and environment by promoting the reuse of goods. Thus, embarking on a pre-move purge of your wardrobe stands as a crucial step towards a smoother, more efficient move and a conscientious way to make a positive impact.

In conclusion, embarking on a pre-move purge by thoughtfully assessing and letting go of items such as long-forgotten storage artifacts, unnecessary clutter, bulky furniture, duplicate household essentials, piles of paper, and unworn clothing, not only paves the way for a smoother relocation but fosters a sense of clarity and efficiency. By carefully evaluating what truly deserves a place in your new home, you not only lighten your logistical load but also embrace a fresh start with possessions that genuinely enhance your living space. Remember, a successful move isn’t just about transporting items from point A to point B, but about transitioning to a more streamlined and thoughtful lifestyle.

[font=”Abeezee”]One of the foremost categories to address during a pre-move purge is the assortment of duplicate household items cluttering your living spaces. Oftentimes, these redundancies accumulate unnoticeably over the years—resulting in multiple sets of kitchen utensils, a plethora of identical linens, or even several versions of the same electronic device. The rationale for retaining these duplicates varies, from holding onto them as backups to simply not recognizing their excessive presence. However, when preparing for a move, streamlining your belongings becomes crucial. Eliminating these duplicates can significantly reduce the volume of items needing transport, thereby not only lowering moving costs but also minimizing the unpacking challenges at your new residence. Moreover, this streamlining process presents an ideal opportunity to reassess the utility of each item, ensuring that only those of genuine value or necessity accompany you, thereby enhancing the efficiency of your living space.[/font]

[font=”Abeezee”]To effectively purge these duplicate items, start by grouping similar items together to fully assess what you have. This visibility often highlights the extent of the redundancy and can be a motivating factor in the decision-making process. When evaluating these items, consider their condition, frequency of use, and sentimental value. Items in good condition that are no longer needed can be sold or donated, offering a way to declutter responsibly. By focusing on quality over quantity, you can retain the most beneficial and beloved items while leaving behind the excess. This not only simplifies the packing and moving process but also paves the way for a more organized and streamlined setup in your new home. Prioritizing efficiency in this way not only aids in the physical relocation but also contributes to a mental unburdening, making the move a more enjoyable and less stressful experience.[/font]

[h2][b][font=”Abeezee”]Boxes of paper Items[/font][/b][/h2]

[font=”Abeezee”]In the milieu of packing and sorting through belongings, boxes of paper items often go underestimated in their ability to complicate a move. These can include old bills, receipts, personal letters, greeting cards, manuals, and even outdated paperwork that no longer serves a purpose. The sentimentality attached to personal letters and cards can make them challenging to part with; however, digitizing these items can preserve the memories without the physical clutter. For the rest of the paper clutter, a discerning look to differentiate between what’s crucial and what’s expendable is essential. Important documents should be neatly organized and stored in clearly labeled folders. In contrast, unnecessary paper clutter—a notorious space-eater and weight-adder to moving boxes—should be responsibly recycled or shredded. This not only streamlines the moving process but also sets a precedent for a more organized and clutter-free environment in the new space.[/font]

[font=”Abeezee”]Adopting a systematic approach to decluttering paper items can yield significant benefits. Start by setting aside a dedicated time to go through each paper-related item thoroughly. Divide them into categories such as ‘Keep,’ ‘Shred,’ and ‘Recycle.’ For sensitive documents, ensuring proper disposal through shredding is paramount to prevent identity theft or information leakage. Utilizing apps and cloud storage for documents that can be digitized not only frees physical space but also ensures easy access to important documents at any time and from anywhere. This methodical purge of paper items decreases the volume of belongings to be moved and can significantly reduce moving costs. It’s a step towards a minimalist lifestyle, encouraging one to evaluate the necessity of physical possessions and the transient nature of paper-based clutter. By letting go of the excess, individuals can embrace a smoother transition to their new home, making the move less about the baggage of the past and more about the excitement for the future.[/font]

[h2][b][font=”Abeezee”]Clothing you haven’t worn lately [/font][/b][/h2]

[font=”Abeezee”]When considering a move, a pivotal area to focus on is your wardrobe. Clothing can easily accumulate over years, leading to clutter and excess that only complicates the packing process. It’s imperative to take a discerning eye to your clothes, identifying items that haven’t been worn in the last year. The rationale behind this is straightforward; if you haven’t found an occasion for an item within this timeframe, it’s unlikely you will in the future. This process not only helps in reducing the volume of belongings to move but also in decluttering your life and making room for items that truly add value.[/font]

[font=”Abeezee”]Moreover, this purge serves a dual purpose. On one hand, it streamlines the moving process by lightening your load, potentially saving on moving costs and reducing the time and energy required to pack and unpack. On the other hand, it brings forth an opportunity for generosity. Clothing in good condition that no longer serves you can find new life with someone in need. Donating such items to charity or giving them to friends not only aids in your moving process but also contributes positively to your community and environment by promoting the reuse of goods. Thus, embarking on a pre-move purge of your wardrobe stands as a crucial step towards a smoother, more efficient move and a conscientious way to make a positive impact.[/font]

[font=”Abeezee”]In conclusion, embarking on a pre-move purge by thoughtfully assessing and letting go of items such as long-forgotten storage artifacts, unnecessary clutter, bulky furniture, duplicate household essentials, piles of paper, and unworn clothing, not only paves the way for a smoother relocation but fosters a sense of clarity and efficiency. By carefully evaluating what truly deserves a place in your new home, you not only lighten your logistical load but also embrace a fresh start with possessions that genuinely enhance your living space. Remember, a successful move isn’t just about transporting items from point A to point B, but about transitioning to a more streamlined and thoughtful lifestyle.[/font]

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 Access Is So Important When Selling Your House

Why Access Is So Important When Selling Your House

Why Access Is So Important When Selling Your House

If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to make your house easy to tour.

Spring is the peak homebuying season, so opening up your house to as many showings as possible can really help you capitalize on all the extra buyer activity we see at this time of year.

Since buyer competition ramps up in the spring, buyers are going to want to move fast to see your house once they find your listing. And, if they see it and fall in love with it at a time they know they’re competing with other buyers, you may be more likely to get the offer you’re looking for on your home.

It’s understandable you want to keep the disruptions to your own schedule to a minimum, and you may be stressed about having to keep it clean, but it’s worth it. As an article from Investopedia explains:

If someone wants to view your house, you need to accommodate them, even if it inconveniences you. Clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.”

To figure out what’s best for you, your agent will walk you through options like the ones below. This list breaks things down, starting with what’s most convenient for buyers and getting less buyer-focused as the list goes on:

  • Lockbox on the Door – A key is available via a lockbox, which makes it easy for agents to show the home to potential buyers. This gives the most flexibility because the key is on-site and convenient.
  • Providing a Key to the Home – An agent would have to stop by an office to pick up the key with this option. This is still pretty convenient for showings, but not quite as simple.
  • Open Access with a Phone Call – You allow a showing with just a phone call’s notice, which can be great for someone who sees your house while driving by.
  • By Appointment Only – This gives you a more advanced warning so you can get the house tidied up and be sure you have somewhere else you can go in the meantime. But it’s also a bit more restrictive.
  • Limited Access – You might go this route if you only want to have your house available on specific days or at certain times of day. But realize this is the most difficult and least flexible of the choices.

As an article from U.S. News Real Estate says:

“Buyers like to see homes on their schedule, which often means evenings and weekends. Plus, they want to be able to tour a home soon after they find it online, especially if they’re competing with other buyers. If your home can be shown with little or no notice, more prospective buyers will see it. If you require 24 hours’ notice, they may choose to skip your home altogether.”

Your agent is going to help you find the right path forward based on your schedule and what’s working for other sellers in your area. And if you’ve got a hardline on granting buyers more access or have interested out of town buyers that just can’t be there in person, your agent will get creative and help you explore other options like video tours, virtual showings, and more.

Bottom Line

When it comes to selling your house, you want to be sure to get as much buyer activity as you can. Let’s connect to talk about which level of access helps make that possible.

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 There Won’t Be a Recession That Tanks the Housing Market

Why There Won’t Be a Recession That Tanks the Housing Market

Why There Won’t Be a Recession That Tanks the Housing Market

There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to show you why that isn’t going to happen.

According to Jacob Channel, Senior Economist at LendingTree, the economy’s pretty strong:

“At least right now, the fundamentals of the economy, despite some hiccups, are doing pretty good. While things are far from perfect, the economy is probably doing better than people want to give it credit for.”

That might be why a recent survey from the Wall Street Journal shows only 39% of economists think there’ll be a recession in the next year. That’s way down from 61% projecting a recession just one year ago (see graph below):

a graph of the economic growth of the economy

Most experts believe there won’t be a recession in the next 12 months. One reason why is the current unemployment rate. Let’s compare where we are now with historical data from Macrotrends, the Bureau of Labor Statistics (BLS), and Trading Economics. When we do, it’s clear the unemployment rate today is still very low (see graph below):

a graph of a graph showing the number of employment rate

The orange bar shows the average unemployment rate since 1948 is about 5.7%. The red bar shows that right after the financial crisis in 2008, when the housing market crashed, the unemployment rate was up to 8.3%. Both of those numbers are much larger than the unemployment rate this January (shown in blue).

But will the unemployment rate go up? To answer that, look at the graph below. It uses data from that same Wall Street Journal survey to show what the experts are projecting for unemployment over the next three years compared to the long-term average (see graph below):

a graph of blue bars

As you can see, economists don’t expect the unemployment rate to even come close to the long-term average over the next three years – much less the 8.3% we saw when the market last crashed.

Still, if these projections are correct, there will be people who lose their jobs next year. Anytime someone’s out of work, that’s a tough situation, not just for the individual, but also for their friends and loved ones. But the big question is: will enough people lose their jobs to create a flood of foreclosures that could crash the housing market?

Looking ahead, projections show the unemployment rate will likely stay below the 75-year average. That means you shouldn’t expect a wave of foreclosures that would impact the housing market in a big way.

Bottom Line

Most experts now think we won’t have a recession in the next year. They also don’t expect a big jump in the unemployment rate. That means you don’t need to fear a flood of foreclosures that would cause the housing market to crash.

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! 

 

 

Pin It on Pinterest