Since the market crash 10 years ago homebuyers and sellers are uneasy about the next market correction. The uncertainty as to what this really means remains the million dollar question.
The Park City Board of Realtors does an amazing amount of work gathering data and educating the local realtors about the real estate market trends. In Park City, the real estate market is cyclical like most markets around the country. We are hitting the 10 year mark with a great run for home sellers.
A Shortage of Homes Available for Sale
If the inventory remains low this trend has a tendency to push home prices higher and with mortgage rates increasing this may cause home buyers to pause because we may have reached a tipping point.
We have had a few…