Is Utah Experiencing Another Real Estate Bubble?

People are always asking me when the real estate bubble is going to burst. Every week it seems like there are new announcements of big companies expanding, or relocating to the area. Whether it's Amazon's $200 million facility and 1500 new jobs, or this latest announcement that Adobe is doubling their Lehi facility with 1300 new jobs.

Adobe Lehi, Utah

If you're waiting for the market to "come down" before buying a house, you're missing the boat. Increasing values are the new norm and I really don't see a repeat of 2008-2011. Conditions are significantly different today than they were back then.  Are you hearing about many people getting into Adjustable Rate Mortgages, stated income loans, or sub-prime mortgages?  Yeah, me neither.  Utah's unemployment rate is the lowest in the nation.  

Utah Unemployment Graph          Utah's population projections


Utah's population is projected to double in the next 20 years. If you're working to put yourself in a position to buy a home, you're better off doing it sooner rather than later. If you have questions about if it's the right time to sell or buy, lets chat. Click here for more information or to schedule a confidential, in-office home buying consultation to discuss your options.

Posted by Dan Kennedy on
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