Shauna Ray, 2020 PresidentNorthern Wasatch Association of Realtors Northern Utah’s hot real estate market continues. With inventory cut by two-thirds compared to last year, buyers are facing tough competition. In Weber County, for example, there were only 298 homes listed at the end of January. That’s down 64% from last year. In Davis and Morgan counties, inventories were cut 65% and 81% respectively. Competition was fiercest in Box Elder County where the number of for-sale homes fell 76%. This equates to less than half a month of supply and means Box Elder has the strongest seller’s market in the state. For buyers who are frustrated by the situation, there are some things you can do to increase the likelihood the …
2021 Real Estate Forecast for Northern Utah
Shauna Ray, 2021 PresidentNorthern Wasatch Association of REALTORS Expect another year of hot homes sales and rising prices for Northern Utah. That’s according to a new housing forecast from local economist Jim Wood. Wood, who works at the Kem Gardner Policy Institute at the University of Utah, is predicting low interest rates and housing demand will support real estate sales in 2021. That should translate into a 5% increase in single-family sales in Davis County and a 7% gain in Weber County. “All of the elements are there: We’re going to have a good year in job growth; we’re going to have net in-migration and low interest rates,” Wood said during a Jan. 12 presentation. “I just expect there’s going …
Rising to the top
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Economic Forecast 2021 Video & Slideshow
Economic Forecast Video Economic Forecast Slideshow