Real Estate Recessions in Utah

Teresa Larson, Village Real Estate, Murray, Utah
20+ years year real estate experience
(801) 750-5446

A recent article in the Salt Lake Tribune Oct. 18, 2014 told about the great recessions in Utah. The article talks about how the state continues to struggle to bounce back. Utah’s job-growth rate is still at only about half its pre-recession peak and new construction is slow compared to prior recoveries.

Utah Shows More Improvements

Utah is doing better than many other states. The reality of our real estate market is that we are seeing some longer days on the market. Prices are up slightly. Many people would like to do something now in real estate but are not able to do anything in the current market because of the problems they suffered in the recent recession. We are also seeing more people who would prefer to rent in the Millennial age group.  This is perplexing to me. Why would someone not want to reap the benefits of home ownership? Why would someone want to build someone else’s wealth? Some might argue this point about Millinnial’s . A recent article dated Aug. 31, 2014 in the Salt Lake Tribune says Millinnial’s are driving a boom in the downtown urban market.

The term recession may be misunderstood by some we hear it a lot these days. Are we are in one? The threat of one. Let’s face it things are simply not simple these days……..for the complete article

©Teresa O Larson PC, 2014