Utah's Insane Housing Market
Posted by Help Now on Tuesday, April 27th, 2021 at 1:40pm.
Is Utah's housing marketing starting to mirror that of San Francisco and the Bay Area? According to Bankrate.com, Utah has been deemed the "king of its national housing heat index". Why is Utah such a desirable place to live amidst a world wide pandemic? Utah boasts the nation's strongest pace of job growth, near rock-bottom unemployment rate, low mortgage rates, and low state and local taxes. When Covid-19 began, and working from home started to look more like a permanent solution to stopping the spread of the virus, many Bay Area residents started searching for a new place to live. The East Bay Times reported that nearly 115,000 residents moved out of the Bay Area. The situation was quite opposite for the state of Utah; people flocked here, but for how long? If buyers cannot afford to stay or continue to be outbid when trying to purchase, the trend will expire soon. Our own, Dave Robison, predicts that the Utah housing market will not reach Bay Area prices for at least 40 years but his concerns over the local housing shortage aren't going away anytime soon. One solution, he adds, is to build high density housing...not a popular topic of conversation when our infrastructure already seems overtasked and homeowners want larger homes and lots. To read Dave's full interview with Deseret News, click the link here About the Author:
Utah Dave - Daybreak Neighboorhood Expert and Local Resident
My friends nicknamed me Utah Dave in high school because they said it didn't matter where we went in Utah, I would know how to get there and who we needed to talk to. The name sticks today as UtahDave has formed into a professional real estate network of Neighborhood Experts all across the state. I live in Daybreak with my wife and 4 amazing children. I enjoy dancing (which is how I met my wife Dawn) as well as traveling, coaching, and learning.
