MAPLETON, Utah — Tony Hamby has been showing Salt Lake area homes to clients for the past two decades. He said some prospective homebuyers are now starting to ask about the government shutdown and how it could affect their major purchases.
"They’re like, what’s going to happen with the shutdown? Is it going to last?" he said.
Retirees Lisa and Chuck Jones are hoping to sell their Murray home and possibly relocate to Mapleton.
"Our biggest concern would be social security and if [the shutdown] affects that eventually, and then we’d get really worried," said Chuck. "But right now, for us, things are going really well."
"We’ve been around, and we’ve been through this so many times, so we know this is just temporary," added Lisa.
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Chuck served in the military as an Army Ranger before becoming an analytical chemist and then a forensics analyst.
"We’ve purchased everything we’re going to buy in our lifetime, other than a new house, and we feel comfortable about that," he added. "We already have a house, so when we sell it, we’ll be able to buy."
While the Joneses are eager to find their new digs, Hamby said not everyone’s so confident.
"In already uncertain times, it’s causing a little more uncertainty," he said.
According to Hamby, loan applications are down even if the mortgage process itself hasn’t slowed.
"It’s the biggest investment you’ll make in your life, so yeah, a lot of people are on pause for that," he shared.
The shutdown slowdown is resulting in many of the properties Hamby represents becoming stagnant.
"People are hesitant," Hamby explained. It does affect things with the VA. Mostly, if you’re a VA buyer and getting that kind of loan, but for FHA and conventional, it’s really not slowing anything down. More mental for people than anything."
Consumer confidence is a very real and tangible part of the homebuying process, with realtors and management companies hoping people will have enough faith in the market to move forward and buy.
The Joneses say they’ll continue with their goals to relocate, but hope this shutdown resolves soon.
"[The shutdown is] just causing a lot of pause for some people," Hamby said. "There’s a lot of people who are making moves, even during these slow times."
