Source: ABC —
Utah home values are skyrocketing and the housing market doesn’t show any signs of slowing down. “Will the bubble burst, or are the high prices here to stay?” This is the question at the front of everyone’s mind.
Utah’s market is unlike any other in the country. It’s leaving potential home buyers to question if they should invest in property now or later. There is fear that this upward trend is destined to develop into something reminiscent of the monster housing market demise and economic crash of 2008. Though, people in the industry are quick to point out the differences.
Rapid population and job growth are the biggest drivers of housing demand in Utah right now. Local real estate agents acknowledge that there aren’t enough single-family homes to meet the rising demand. But the market is stable. Prices have risen sharply and steadily for more than two years and there is every indication that Utah home prices will continue to rise. So buy now, right?