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Utah Housing Market Faces Inventory Shortage

house-435618_1920Utah’s housing boom has attracted new homeowners and developers to the beehive state. Unfortunately, as housing prices rise and prospective buyers flood the market real estate professionals worry that there may not be enough homes to meet the demand.

Many homeowners are afraid to sell their homes because they worry that they won’t be able to find a replacement. Families who bought their houses before the Great Recession are slowly recovering from underwater mortgages and regaining equity in their property. The high cost of available housing may price them out of the market.

Affordability and inventory will drive many potential homebuyers away from major cities. Houses in nearby counties, such as Utah County, may be more accessible than properties in urban centers like Salt Lake City. Homebuyers will also look at condos and townhomes for affordable prices, neighborhood amenities, and their proximity to urban areas.

Mighty Butlers Moving offers affordable moving services throughout Utah. Whether you live in Salt Lake City or beyond, we strive to give you a moving rate that works for you. Call us at 801.890-3868 for a free quote!

This news summary contains excerpts from the Daily Herald article dated February 2, 2016.

 

 

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