Inventory of existing homes for sale dropped dramatically from a 5.1-month supply in November to the lowest figure since January 2005, at a 3.9-month supply. A normal market, where prices rise with inflation, is defined as having a 6-7-month supply of homes for sale.
I cannot remember a December report this strong. The problem for most people who are buying in Utah in 2016 will be finding the home that meets their family’s needs. It is a serious seller’s market with only a 3.9 months supply of homes available. Our physician construction loan program may make building a home the path of least resistance for those looking to get exactly what they want. Please give Josh Mettle a call at (855) 260-9932 or Contact Us here. We’re happy to talk with you about our construction loan program or get you Credit and Income approved so that you are the strongest bidder on an existing home.
Thanks to KCM blog for this post.