Utah First Homes Program seeks to preserve American Dream of Homeownership

Northern Wasatch Association of RealtorsAdvice, Update

Adam Speth2023 President, Northern Wasatch Association of Realtors A new initiative from Utah Gov. Spencer Cox could make homebuying a little easier for those looking to purchase their first house. The governor is proposing a state budget that includes $150 million to build 35,000 starter homes by 2028.  “The single greatest threat to our future prosperity, the American Dream and our strong communities is the price of housing,” said Gov. Cox in a press release announcing the proposed budget. “Our kids will never be able to call Utah home if we don’t start building starter homes again. With the goal to build 35,000 new starter homes, the Utah First Homes Program would provide new funds for infrastructure, help for homebuyers …

Jared James is coming to Utah

Northern Wasatch Association of RealtorsClass, event

Save the date! Jared James is coming to Utah in August! Information about registration will be coming soon, watch for email, text and social media posts with details!

More building needed to reduce housing shortage

Northern Wasatch Association of RealtorsAdvice

Adam Speth2023 President, Northern Wasatch Association of Realtors Labor shortages, high financing costs, supply challenges and regulatory issues are holding back the home-building industry both in Utah and across the nation.  In fact, Utah homebuilding permits fell 19.4% in 2022 — one of the highest drops in the country, according to a report from Point2. In Ogden-Layton, the pullback was even greater with permits down 34% — bad news for our already-historic-low housing inventory problem.   Data from the Ivory-Boyer Construction Database shows a similar pattern. Utah residential permits dropped 29% in 2022, and January 2023 residential permits were at the lowest level in the past five years.  After a record year for homebuilding in 2021, the pullback is concerning since …