Utah Housing Market Update
At Windermere, we’re fortunate to have Chief Economist, Matthew Gardner, as part of the team to provide valuable analysis of the economy and housing market. He recently completed his housing market update for the 4th quarter of 2017¹. Click here to read his full report to find where Utah sits currently and where the market is headed.
Some highlights and findings include:
- Home sales continue to be held back by very low levels of available inventory. Listing activity continues to trend at well below historic averages, with the total number of homes for sale in the fourth quarter down 33.7% from a year ago.
- The imbalance between supply and demand persists, which means home prices continue to appreciate at above average rates. This is likely to continue for the foreseeable future as inventory levels are unlikely to rise sufficiently to meet demand.
- During the fourth quarter, it took an average of 50 days to sell a home in the region.
Are you thinking of buying or selling real estate? Have questions about this report? Call, text or email anytime. No obligation-its just what we do.