The Housing Paradox: Understanding Price Surges and Inventory Shortages

Real Estate Morning Drive

Why are home prices skyrocketing in over 90% of metro areas despite mortgage rates at a 20-year high? Tune in to uncover the paradox driving the real estate market. We'll dig into the critical issue of insufficient housing supply and explore potential solutions like affordable housing projects and accessory dwelling units (ADUs). Hear firsthand accounts of competitive offers in downtown St. George, illustrating the intense demand and soaring prices in the region. Also, get the latest home price forecasts for 2024 from industry leaders like Fannie Mae and Goldman Sachs.
In this episode, we also examine the state of housing inventory across the United States, revealing a 500,000 home shortfall compared to seven years ago. Yet, Washington County bucks the trend with a 10% increase in local inventory since 2017. What fuels this local stability? We delve into the region's population growth and housing demand. Learn why 36% of Americans still consider real estate the best long-term investment. Plus, get actionable tips on how small renovations can substantially increase your home's market value. To wrap things up, we share practical advice on making impactful home improvements, drawing from real-life success stories.
Have other questions about living in, moving to, or visiting St. George and Southern Utah? Just ask!
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🌟 Who? Jeremy Larkin was born and raised in St. George, Utah and is the owner of The Larkin Group Real Estate Advisors.
📍 Where? Washington and Iron County, Utah, including, but not limited to St. George, Washington City, Ivins, Santa Clara, Hurricane, LaVerkin, Toquerville, Cedar City and Parowan.
💈 What? Jeremy and his team of expert advisors at The Larkin Group walk the best clients in the world through the brain surgery of Buying, Selling and Investing Southern Utah Real Estate! And perhaps more importantly, they LOVE this community and pouring their heart and soul into it!
📻 Tune in! Jeremy is the host of The "St. George Real Estate Morning" Drive radio show 94.9 FM / 890 AM. You can stream the weekly program Thursdays at 8:35 AM here: https://tinyurl.com/radiorealestate
🙏 Give: The St. George Basket Brigade feeds 200+ families every Thanksgiving and supports local families, students and schools through organizations like Tan's Treats. Learn more and give at http://stgeorgebasketbrigade.org/
🔍 SEARCH ALL HOMES AND LAND in Washington County https://www.gostgeorge.com/
🔗 CHECK YOUR CURRENT HOME EQUITY @ https://www.gostgeorge.com/homevalue