The Cache Valley Utah Real Estate market definitely seems to be gaining momentum. We are really seeing a lot of increased activity with the sale of Starter Homes. Right now it just seems like first time buyers are optimistic about buying. This creates a chain effect, because when starter homes sell, the existing sellers are then able to purchase the expensive homes. This cycle will reduce the surplus of real estate inventory in Cache County.
The other day, Ethan Poppleton had a list of a dozen homes to show some buyers. On Tuesday, four of these properties were no longer on the market, they were under contract. One more property went under contract today, and these buyers plan to write an offer on another house this afternoon.
Here are some of the reasons we see Cache Valley Utah Real Estate activity increasing:
Logs of Selection There are more Homes in Cache County right now than there has ever been during the month of March. Buyers are in a position of power and finding what they are looking for.
Low Interest RatesMortgage interest rates are the lowest they've ever been. Interest rates for 30 year fixed mortgages can be obtained for less than 5%. It is less expensive to own than to rent an equivalent sized home.
Government IncentivesLogan Real Estate offers excellent grant programs and tax credits for first time buyers. If a first time buyers buy a new home in Logan they can also qualify for the $8,000 federal tax credit.
This spring rush of Cache Valley Utah Real Estate activity is good news for our housing market.
Source:
Housing Market Home Shopping
