It is a very exciting time for the housing market in Salt Lake City. Salt Lake is to be projected in the top ten home buying markets for next year. In fact, Salt Lake City is projected to be number six.
Realtor.com recently released their predictions for the top housing markets of 2018 after looking at the number of sales of existing homes and their prices, along with the amount of new homeconstruction in the 100 largest markets (along with economy, population trends, unemployment rates, median household incomes, and other factors). Affordability, along with a strong economy, are top priorities for home buyers this year. And while prices are expected to grow, these ‘hot’ markets will still remain relatively affordable in 2018.
So which housing markets are this year’s big ‘winners?’ Here are the top 10 housing markets of 2018 (as predicted by realtor.com).
- Las Vegas, NV
- Dallas, TX
- Deltona, FL
- Stockton, CA
- Lakeland, FL
- Salt Lake City, UT
- Charlotte, NC
- Colorado Springs, CO
- Nashville, TN
- Tulsa, OK
What does this mean for buyers? Buy now and ride the wave as property values continue to increase. “Salt Lake has been dynamite,” said one Salt Lake Valley realtor who has been selling homes in Utah for 27 years. “It has been one of the hottest cities in the country. A lot of businesses are moving into town and it brings a lot of buyers in different price ranges. Once they come here, they fall in love with the area the mountains and the people.”
As the housing market continues to increase, another fantastic opportunity is buying rental properties. Typically investors wait for a down market to start buying, but there is a real opportunity here to buy now. Buying in a hot market where appreciation growth is occurring, investors can enjoy the equity increases and receive top dollar rents. Investing in Salt Lake City real estate has been predicted as a path to success in the housing market of 2018. If you’re a real estate investor looking for a new investment property to make money, investing in Salt Lake City real estate will be a great option.