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2019-05-24 10:50:39
Utah remains No. 1 for home growth



According to the U.S. Census Bureau. Utah  continues to build homes faster than any other state, at a rate of about 2.2 percent for 2017-2018.

“This growth is pretty unrelenting” in Utah said Pamela Perlich, director of demographic research at the Kem C. Gardner Policy institute.  Pamela believes that this expansion is sustainable and does not classify it as a boom.

Utah’s housing market has been a among the hottest in the west for the past several years, driving up prices for homebuyers and renters, particularly along the Wasatch Front, according to James Wood, a senior fellow at the Gardner Institute who studies real estate trends. Last year, he notes, was exceptional. Home sales were brisk, while apartments and condos were being built at an all-time high — in no small part due to steady job growth in Utah.

The employment growth brings people in and those people need housing units,” he said. “Consequently, we get demand for housing.'

Rebecca North, 25, who came to know the frenzied home market well. Her family recently settled into a Spanish Fork home in their $250,000 price range, but it was their sixth choice, North recounted Wednesday. The family made compromises, giving up their desires for a garage and a sprawling yard for their two kids.

'The sellers can just pick who they want,' she said, 'because there are so many offers.'

If you are interested in either buying a new home or selling your existing home, give me a call. I would love to  assist you with all your real estate needs.

 
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