Cruel Real Estate Summer | Why No One's Happy

In today's real estate market, everyone is unhappy but each in their own way – creating what's been called the "Anna Karenina housing market." This perspective helps explain why builders are offering incentives, sellers are reluctant to lower prices, and buyers face the double challenge of high rates and high prices.

• Monthly payments for buyers are up 60% since 2021 despite values being down about 10%
• 62% of builders nationwide offering significant incentives like $10-15K credits to buy down interest rates
• One in five sellers has cut prices while many others are choosing to delist rather than reduce
• Many 2022-2023 buyers now find themselves underwater on their mortgages
• Life reasons still drive moving decisions: retirement, family needs, downsizing, job changes
• People often prioritize money over experiences but at life's end regret not spending more time with loved ones
• The market remains active with 565 homes under contract representing approximately 1,170 families in transition

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

[00:00:00] Introduction: Cruel Real Estate Summer
[00:01:54] Reflecting on National Tragedies
[00:05:23] Information vs. Perspective in Real Estate
[00:09:00] The Anna Karenina Housing Market
[00:16:40] Money vs. Family in Selling Decisions
[00:22:42] Real Life Reasons People Move