Should you buy now?
Supply vs. Demand is the current formula for the Salt Lake real estate market. Demand is projected to increase and supply simply just can’t increase fast enough. When coupled with an impending interest rate increase, the result is a predictable decrease in purchasing power.
Salt Lake is a seasonal market. Therefore, the predicted price increase 6-10% increase in median price will occur this spring. The first interest rate hike is likely to arrive when the Federal Reserve meets in March, with at least one more coming later this year. Now is the time to buy!