The country has been waiting for some signal as to the state of our economy. There’s a lot of speculation out there as to where the economy is going. Years of excess federal stimulus and monetary policy have landed us in a position of high inflation. The question is, can they dig us out of this current headache?
Leisure Villas has been in the Utah market now for some time, providing the best 55+ communities around. As such, we not only strive to find and build what Utahn’s want, but we feel as if we have a good pulse on the market.
So where is the market and what do we have available to you if you’re looking to buy in this market?
Buying a 55+ Home in Utah During 2nd Half of the Year
Leisure Villas Products: Only the Best 55+ Communities
If you feel like this is the time to move into a Leisure Villas community, we welcome you. Most of the crazy price increases are over with, and we’re seeing some stability in the market at last.
We are nearing completion on a couple of our subdivisions, but we are also opening up a new community. Here’s the update, and depending on where you want to live, you may want to take note before it’s too late:
Utah County—We have two current projects happening in Utah county. One is in Saratoga Springs. This one is nearly complete. Most of the homes are sold out; however, as so often happens, we do get the occasional contract that falls through. As of this posting in August, we have one home that might become available again soon. If you really want to live in this community, I suggest getting in touch with our sales team for The Villas At Legacy Farms because if any do become available, they will not last long.
Our other Utah county subdivision is also nearing completion. Vineyard is a fast growing city, and this community is not sold out yet, but every home there has begun construction. As of this posting, there are approximately ten homes left to buy here, many of which might sell any day now. Don’t delay. If you want to live closer to the Orem area, The Villas At Waters Edge is one of the last opportunities left in the area for this sort of development.
We do have one other upcoming subdivision that will likely be starting next year on the border of Saratoga Springs and Lehi. Check back with us then to learn more about this addition to our group of best 55+ communities.
Ogden—Jumping up north, we no longer have a community available in North Ogden. Cherry Springs Villas is officially sold out. We are, however, working on bringing a new community to the area and will hopefully have something soon to share with you, so check back in about six months, and we should have an update then.
Tooele—The first phase of our Country View Villas subdivision is going strong. We’ve just dug holes for the last homes in that phase. There will be a delay in starting the second phase, so if you need to move in sooner rather than later, make sure you get one of the homes in this first half.
South Jordan—This is finally up and running. We have our first few homes under construction. This is a very high demand area, so keep in touch with our sales staff if you want to know when homes are opening up for sale.
Right now, the housing market is in a slow decline around the country. Some areas and demographics are being hurt more than others. The toughest hit demographics are those for first-time homebuyers.
This slowdown has not yet trickled up to the middle/upper scale houses as much. We’re still seeing a steady demand for the best 55+ communities. Only time will tell if this eventually affects those demographics. But for now, the decrease in first time homebuying is just putting less pressure on the raw material supply chain, which should hopefully reduce the shortages that we’ve all had to deal with recently.
Because of this, we are forecasting that prices on completed homes are going to start stabilizing near these levels.
What’s On The Horizon
Whether or not the Feds can wrangle in inflation will dictate what happens to the market going forward. So far, the government seems committed to spending more money, which means they are adding to inflationary pressures, while still trying to combat them. We’ll have to see where this takes us. We might end up with a decent correction, or we might just kick the can down the road again. Time alone will tell.
The housing market should not keep you from exploring your choice of the best 55+ communities. If you are looking to call one of our Leisure Villas home, give us a call today.