LIME REALTY GROUP has seen a brisk uptake in clients approaching us looking for properties to buy. The demand right now is very high. And it’s no wonder. We decided to look at some of the reasons why home demand might be on the increase in Southern Utah and here’s what we’ve found.
Despite the heat, building seems to increase during the summer months. This is partly due to buyers using the early part of the year to get down payments together or make other arrangements. So new home construction backs up quickly with some people actually waiting for their home to break ground as soon as workers can move from other jobs to theirs.
This demand for new home construction is a large part of the economy in Southern Utah and if it wasn’t for these new homes, our area wouldn’t be doing nearly as well.
Another driving force this year is the dip in the mortgage rate. The lower rate has the ability to drive sales in the real estate market and this year is no exception. With the instability of the market plunging the rate back below 4% buyers who have wanted to get into a home have taken the chance to use this fortunate turn of events. Just today the FHA thirty year fixed is still below 4%. A number analysts predicted would be near 5% by now.
Finally, St. George continues to be one of the nation’s fastest growing areas. It’s our normally fantastic rate of growth that adds to the increase in demand for housing.
These are just some of the reasons Lime is so busy this year and experiencing so much success. And we’re proud of it! Lime is the clear choice for real estate in Southern Utah and we’d like to be part of your dream home purchase. Call Lime today!