Homes are Flying Off the Market
Monthly Housing Trends Report for April, The report deemed this “the hottest spring housing market on record,” and a cool-down does not appear imminent.
“The dynamics of increased competition and buyer frustration are unlikely to change this spring.” “In fact, the direction of the trend is pointing to a growing mismatch between the pool of prospective buyers and existing inventory.”
10 Smaller Cities Poised to Skyrocket, The Next Urban Powerhouses: Everyone obsesses over the handful of smaller cities that got the secret formula just right and have exploded into some of the nation's biggest economic and trendsetting powerhouses. So savvy home buyers wonder where the next generation of powerhouse cities will be.
We crunched the numbers to figure out which small and midsize metros are poised to hit it big. What we found: unexpected places that are millennial-friendly with tech job growth and proximity to bigger cities where prices have gone insane.
“We'll see small cities continue to be growth centers,” “A lot of them are in the South—a region with great affordability, a business-friendly environment, and warmer weather.'
Nationally, the median list price was up 8 percent over the year in April and 3 percent since March. The national median listing price in April was $290,000. Homes continued to sell with increasing speed in April, with a 5 percent in the median age of inventory from last year and a 9 percent from the previous month. The median age of housing inventory in April was just 59 days.
On the other hand, the market experienced a hint of relief from the pervasive heat in April’s inventory count. While inventory declined 6 percent over the year in April, Realtor.com noted this was a slower pace than previously charted. Month-over-month, the market actually posted an increase in inventory, up 5 percent from March.
The median age of inventory was shorter than 30 days in San Francisco-Oakland-Hayward California; Seattle-Tacoma-Bellevue, Washington; Salt Lake City, Utah; and Ogden-Clearfield, Utah.
So where are the next dream towns?
Ogden's secret to success is likely its proximity to Salt Lake City, just 40 miles away. However, families on a budget will appreciate that the median home list price is about 11.1% less. (The median home list price in Salt Lake City was $399,950.)
The number of high-paying jobs is also rising here. While its major employers remain the federal government and health care industry, development officials have worked hard to lure smaller high-tech firms to the city.
The family-friendly atmosphere permeates Ogden. On any given winter weekend, families load up skis and snowboards and head for one of the world-famous ski resorts in the Wasatch Range, including Alta and Park City. And despite having one of the highest numbers of Mormon residents, who don't drink coffee, the number of places where you can get a caffeine fix has increased by double digits in recent years as more folks
That helped it to land on the Brookings Institution’s list of the Best Cities for Advanced Industries for 2015.move in.
“Local dynamics show the heat is being spread out more broadly than before, lighting the spark in more areas but stopping the fire in others.”
Are you Ready to Sell or Buy! We have a wealth of information to help you get started visit Precision Realty & Assoc. LLC or if you prefer a more personal touch, reach out to a us, CALL 801-809-9866 today.
#RealEstateForSale #Homeownership #UtahRealEstate #New Construction
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