It’s a New Year And We’re Ready

What is happening with Utah’s housing prices, affordability and what is forecast for the market in 2022? These are just a few of the real estate topics we’ve delved into recently.

By far, the most likely outcome for housing prices in Utah over the next two to three years is a period of price moderation similar to what occurred after price accelerations in the late 1970s and the mid-1990s.

The only instance in the past 75 years of housing history when price declines lasted more than a few consecutive quarters was in the aftermath of the Great Recession (2008-2011), housing prices fell by 15.6%.

An extended period of price declines created by a bursting bubble is very unlikely according to the data presented in the yearly Housing Forecast Report. Information is provided by Utah Real Estate and James Wood (Ivory-Boyer Senior Fellow, Kem C. Gardner Policy Institute, David Eccles School of Business at the University of Utah) and commissioned by the Salt Lake Board of Realtors.

We’re working and happy to be available for all of your real estate questions and needs, little or big!

Envision Utah