Utah Housing Market Ranks #1 in the Country
According to Bankrate.com, Utah's housing market was the hottest in the country in the 4th quarter of 2020, which is no surprise. Homes are selling in record times and prices are increasing quickly. Home values in Utah increased by 15.4% in the 12 month period that ended on Dec 31, 2020.
Utah has been particularly appealing to those wanting to get out of large crowded cities. The coronavirus pandemic has forced many to start working from home. This has allowed for more movement out of these large cities. Compared to New York and California, Utah's housing is still very affordable. See this article by Fox Business featuring one of ARI Realty's listings. Utah being centrally located to recreation and having a very strong job market has helped boost us to the top of the list.
We have seen huge increases in home values, and an unlimited influx of buyers in the state. This doesn't appear to be changing anytime soon. Utah's housing market is strong and will continue to be for the foreseeable future.