The Job Market vs. Housing Market in Southern Utah
The inevitable truth about today’s housing market is that at times it is only as strong as the local job market. As a result, these markets are constantly being evaluated against one another. In our experience with selling homes to relocators, we have found that there are two main types of relocating homebuyers. The first is a homebuyer who is needing to relocate after accepting a job offer. The other is when a potential homebuyer seeks employment in a location where they desire to live.
There is a special art to selling a home when relocators are involved. The Shaffer Team takes pride in being able to advise sellers through the process of the sale when the buyer is a relocator. It is important to note a few things with these types of sales:
· Listings may sit in Escrow for extended periods of time.
· Buyers who are interested in the listing but have to travel long distances to view the home, may put in an offer but rescind it shortly after.
· Some buyers need to expedite their process in purchasing a home so they can begin the relocation process quickly.
Overall, relocators are prime target buyers as they will often extend offers that are much higher than the original listing price to close the sale faster.
If you are looking to relocate to or find employment in Southern Utah this year, you’re in luck. Recent data from the U.S. Census Bureau has shown us that the St. George Metro Area is one of the top locations in the state that has both strong housing and job markets. Since May (2019), employment opportunities have increased by 2.9% allowing for the creation of just over 44,000 new jobs.
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Contact the Shaffer Team to help you with all your real estate needs! We are a team of professionals located in Southern Utah, specializing in selling homes to all types of buyers including
relocators. Call us today at (435) 703-8885.