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Are we in another 2007 real estate bubble?

Are we in another 2007 real estate bubble?

The quick answer is no. Back in 2007, there were 15,000 homes for sale along the Wasatch Front and over 6,000 developed building lots. Worse, every month thousands of homes came on the market but only 1,000 homes sold every month. That is, 2007 (and 2008, and 2009, and so on until 2012) saw high supply and very low demand.


Fast-forward to today: There are only about 1,000 homes for sale along the Wasatch Front and 100 or so developed building lots, but every month we see about 2,000 sales.


That is, 2021 saw ver high demand and very low supply. 


At the beginning of 2020, the number of new listing far exceeded the number of sold listings. By the end of the year, sold listings passed new listings. Much of 2021 also followed 2020’s pattern–new listings outweighed sold listings, but by the 4th quarter, sold listings once again exceeded sitting inventory.



Putting it all together, you can clearly see that demand outstrips supply. Because demand was high and supply was low, 2021 saw a dramatic increase in sold price compared to 2020.



Once again, 2021 saw very high demand and very low supply. Thus, until we see much higher supply or much less demand (and neither appears to happen anytime soon), 2022 sill have the same unbalanced market as 2021.


One helpful note: prices aren’t predicted to rise more than about 8% in 2022.


Stay tuned for more information!

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Market Comparison 2020 VS. 2021

Market Comparison 2020 VS. 2021

Check out the stats below to see how the 2021 housing market compared with the 2020 housing market!


Prices rose along the Wasatch Front in 2021 over 24%! We won’t see price increase like that again in 2022, but the latest industry predictions still show price growth at a healthy 8% for the year



Stay tuned for more info and have a GREAT NEW YEAR!



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Video tour

The Consumer Financial Protection Bureau announced on Wednesday a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure rule until Oct. 1.

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Real Estate Roundup!

May new home sales gain 2.2% from April

Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. — From Housing Wire

3 ways to tame student loan debt and afford a mortgage

It’s no secret that student loans can make buying a home a challenge. But what exactly is the problem, and how can buyers overcome it? The problem is that student loans can be included in the buyer’s debt-to-income ratio, or DTI. — From Bankrate

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We’re ready for the TRID rules!

At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.

CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”

Rainier Title has been working towards the TRID implementation for over a year and felt prepared for August 1st. However, with the proposed delay we will be taking this opportunity to continue our education and training of TRID. While we believe that we have been proactive and ready for this change, there are still so many unknowns that will have to be addressed at the time of implementation. The industry should still prepare for 45-60 days for transaction to close due to the new timing parameters of the forms.

We’re working hard to be ready for all changes!


Real Estate Roundup

Active Home-Building Industry Will Lead to More Demand for Warehouse Space

Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online

To Buy or Not to Buy: That Is the Developer’s Question

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