Today I’m especially excited to share a market forecast for 2021 because all indicators point to a record-breaking year for home sales. The market increased by a little more than 11% last year, but experts are anticipating appreciation of 6% to 8% this year—not double-digit growth, but certainly still phenomenal, stable growth. Also, Salt Lake City was among the top 10 cities for job growth last year, making us one of the best secondary local markets in the nation. What’s a “secondary” market, though? Also, should you be worried about a bubble bursting soon?
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:
0:34 — The value of our info-packed, four-page newsletter
1:35 — 2020 almost broke 2005’s record number of sales; 2021 is expected to take the crown
2:22 — This year, new construction will be full throttle; we expect 30,000 new units to be built
3:25 — Salt Lake City cracked the list of top 10 cities in the nation for job growth in 2020
4:00— Instead of, “I can’t believe the price,” try saying, “I can’t believe the historically low rates”
5:00 — We’re one of the best secondary local markets in the nation
5:55 — Why I’m not worried about our market
I hope you found this first update of the new year helpful; if you have questions about the market or want more information on a specific real estate topic, don’t hesitate to give me a call. I always look forward to hearing from you and learning more about how I can be of service.