The COVID-19 pandemic hasn’t been able to slow down the real estate market in Utah. As of year-end 2020, home sales were up 8 percent from the previous year, and home prices remain on the rise. What’s going on with affordable homes in Grantsville, UT? Following are a few of the key factors that have kept the Utah housing market on the upswing, despite the previous year of unprecedented events.
Job growth
Utah is ranked second in the nation for job growth. Salt Lake City in particular has made the list of top prospective markets for 2021. This healthy job market continues to draw people to the area, or encourage them to stay. With this trend comes a demand for housing, which keeps the housing market on a positive track.
Low interest rates
Mortgage rates continue to attract buyers. It’s hard to beat a rate of 3 percent, which is what buyers can get today. This low rate has helped potential buyers, especially first-time buyers, become homeowners in Grantsville, UT and throughout Tooele County. Economists predict this rate will remain low over the next two years, so it will continue to help drive the housing market in Utah.
Urban escape
Another trend that has had an impact on the housing market is the move away from the city. People have been moving away from their downtown settings to purchase larger homes and seek better living opportunities in more suburban areas. Homeowners can get more bang for their buck as they seek affordable homes in Grantsville, UT.
Remote work
Further stimulating the urban escape is the recent growing trend in work-from-home opportunities. The pandemic pushed many office workers from buildings in the city to suburban living rooms, home offices and basements. It is expected that a large percentage of these workers will not return to their offices post-COVID-19. This means home buyers are more likely to choose affordable homes in Grantsville, UT, since a commute no longer factors into their home-buying equation.
Home builders
The expert home builders in the area provide an additional boost for affordable homes in Grantsville, UT. By offering quality construction at reasonable rates, home buyers can purchase a new home that perfectly suits their needs and lifestyle. They can partner with a local builder to design the house of their dreams, finance it at a low interest rate and work from their home office while enjoying all the amenities of Grantsville, UT. It’s truly a win-win for homeowners in Utah!
Reap the benefits
Don’t miss out on this great housing market. Now is the time to buy an affordable home in Grantsville, UT. Partner with the experienced builders at UpDwell Homes LLC to get started. We offer more than a quality home—we give you a better quality of life. Our team develops neighborhoods home by home, to provide homeowners with the ultimate blend of community and style. Our custom homes are designed for functional living with today’s most sought-after amenities and features. Reach our team today at 801-784-9100 to discover how we can put you in an affordable home in Grantsville, UT.
