The conventional wisdom in real estate is that a bigger inventory of available homes for sale means more competition between sellers, with potentially lower returns as a direct result.

The above graph shows that more homes have been coming onto the Iron County market for some months. However, right now …

Congratulations if you bought your home when mortgage rates were 5% or below. What's happened to rates since that time has only served to prove what a shrewd move that was.

Some would-be home sellers are still sitting on the fence, waiting for those times to return. The truth …

The above statement from the National Association of REALTORS® chief economist demonstrates that, across the nation, there is still an affordability issue for buyers.

Lawrence Yun says that recent inflationary pressures are likely to mean slightly higher mortgage interest rates in the upcoming weeks.

It's very important to stress …

If you've been on the fence about when to list your home, there are some compelling reasons to do so right now.

• As we head into March, it's still relatively early in the real estate year and there are some real opportunities for sellers.
• Inventory of available homes …

Numbers and statistics paint a picture. Sometimes they show a reality we neither like or expect, but they don't lie.

The graphs here, provided by InWest Title, show similar fluctuations and trends.

We started 2023 with mortgage interest rates at around 6%. In the first quarter they dropped …

As we have shared with you over the past year or so, we saw an unprecedented spike in property values between late 2020 and mid-2022.

So where are we at right now?

The above median sales price graphs, for Iron County and Washington County, give us some important clues.

On …

The above map is generated monthly by our website provider.

It shows the number of impressions, or views, on our website for July and, as you can see, although the majority of our site visitors are, naturally enough, based the Utah/Nevada/Southern California corridor, we do, in fact, attract …

Right now our Iron County real estate market could best be described as flat.

Homes are selling quite well, certainly, but market conditions are such that we don't expect to see much of an increase in activity for the rest of this year.

A significant drop in mortgage …

The main highlight of our local real estate market right now is that it is somewhat flat overall.

As the above Absorption Rate chart shows, there has been quite a recent jump in the amount of homes on the market.

Of course some of this is seasonal, given that more …

The first quarter of 2023 has seen a modest but encouraging reversal of recent negative trends in Iron County.

The above graph demonstrates that the number of sales have begun to climb again, following the downward trend over the past year. This is partially explained by the recent lower mortgage …