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It may seem counterintuitive that some of the best markets for sellers are those that have seen the largest price drops since the housing recession began.
However, this is likely due to investor interest, as many are buying distressed and non-distressed homes in bulk and transforming them into rentals.We are also seeing investors win in multiple offer situations over owners occupant buyers on well priced homes or fixer-uppers due to the fact they pay cash. This investor activity is driving up prices for all homes in these markets. Salt Lake City and the established neighborhoods are certainly experiencing a seller’s market now and affordable homes come available on the market daily. It’s exciting to work in a lively market again.
* chart according to Zillow