Real Estate Inventory is going up not down here in Southern Utah.
One year ago there were 1366 properties for sale here in Southern Utah.
Last week , just one year later there was just under 1800.
In the last 2 weeks 125 new properties were listed and only 88 pending.
Inventory is continually creeping up.
What does this mean?
For the Buyer, you are going to have many more choices.
You are also going to be able to negotiate more on the price and have the ability to negotiate on features and closing costs.
If you are a Seller, you need to be very specific when pricing your home.
You will need to price it at market value or even below.
Sellers cannot think about pricing their home at prices 2-3 months ago, but will need to compare with those priced in the last 2-3 weeks.
Buyers can spend days in their cars looking at what is available in today’s market.