COVID-19 put the brakes on a lot of things in 2020: concerts, athletic events, festivals. Yet, the virus didn’t manage to slow down the sales of affordable homes in Grantsville, UT. How has the Beehive State continued to thrive in real estate during the pandemic? There are a few major factors that have come into play that have kept the housing market strong in Utah this past year, and are expected to keep it strong in the year ahead.
In the early 1980s, home buyers could expect to pay more than 16 percent interest on their mortgage. Those rates seem astronomical compared to today’s standards. In 2020 (and most likely for the next two years), buyers were able to take advantage of extremely low mortgage rates, at around 3 percent. Despite the events of the pandemic, potential homeowners looked at the numbers and decided not to pass up this opportunity.
The pandemic may have kept some homeowners in place who would have otherwise sold their houses and relocated in 2020. However, the reduction in movement created a limited supply of homes on the market. As a result, the homes that were available moved quickly and sold at better prices. This high demand kept the market moving for affordable homes in Grantsville, UT.
Social distancing didn’t stop buyers from looking at homes. They simply went virtual. Live-streamed open houses and online virtual tours have been great methods for potential buyers to view homes from a safe distance. This also allowed home sellers to market their properties to non-locals more easily, so those who were looking for affordable homes in Grantsville, UT could find them from anywhere worldwide.
The increase in work-from-home scenarios created by the pandemic has strengthened the trend of moving away from the city to more affordable homes in Grantsville, UT. The suburbs continue to see an influx of people who want to get more house for their money and can now live farther from the city without commuting concerns.
Custom home builders
Despite the challenges of the pandemic, custom home builders in Grantsville, UT have continued to produce quality homes at affordable prices. Home buyers are finding all the amenities they desire at a rate that fits their budget. By partnering with these professionals, home buyers are moving into homes of their dreams that perfectly suit their lifestyles.
We’re not slowing down
Founded in 2012, UpDwell Homes LLC has the experience and expertise to weather the storm of COVID-19. We use our many decades of combined home-building experience to give customers more than a quality home—we give them a better quality of life. As a creator of affordable homes in Grantsville, UT, we do so by developing neighborhoods, home by home, that provide customers with the ultimate blend of community and style. Each home is designed for functional living with today’s most sought-after amenities and features. Contact our professional team today at 801-784-9100 to get started on your dream home in Utah.