In the continually evolving real estate market, it might seem like it’s always the perfect time to buy a home in Utah. Despite the hot housing market, there is an ideal time to buy quality built homes in UT, but the timing depends where you want to live and what features you want in your home.
How to Find the Perfect Home and Price
Before you begin shopping for an affordable home with your favorite features, you should find a realtor. They know how to browse the market to help you find the home in your desired area at the price you want. They also know how the market changes, so they can tell you when a home is a great deal.
Price Changes
If you’re looking for a great deal on a home in Utah, the best time to buy is April. Generally, home buyers can save over $100,000 on a new home. The worst time to buy is November, when homes are priced close to $200,000 over the annual average.
Mortgage rates determine the final price of your home. Over the years, mortgage rates routinely drop in December, which can make the higher November prices seem more attractive. Often, mortgage rates follow prices, as homeowners find themselves charging higher prices as the mortgage rates drop. The opposite also happens, as mortgage rates increase, home prices decline.
Seasonal Shopping Benefits
Utah has clear seasons, and many homeowners and buyers want to move when the weather cooperates. It’s tough to move in the middle of a blizzard, so the best time to move depends on where you want to live and the type of home you want.
For example, if you want a turn-key home, the best time to buy is in the spring and summer. People work on their homes in the colder months, then sell them when the market and weather is hot. On the flip side, the worst time to buy a home is in the middle of the winter, especially in February. In the winter, the inventory drops, but you might get a better deal – because people who try to sell in the winter really need to sell.
Of course, some areas of Utah have mild winters, so you won’t have to worry as much about the winter doldrums and summer heat. Some neighborhoods are always hot sellers, while others struggle to move inventory. This is where a realtor can help you find the perfect home for the right price.
Great Places to Find a Home
Utah offers spectacular views and plenty of outdoor activities. The state is also filled with job opportunities and affordable places to live.
People moving to Utah often choose Salt Lake City because they get the best of both worlds – a big city with a small town atmosphere. Unfortunately, this makes the home prices higher than other areas without as many benefits. Other hot markets in Utah include Hyde Park, Park City, and Providence.
