Utah Real Estate 2011 Forecast
Utah realtors are seeing lots of light at the end of the tunnel for 2011, based on the forecast of Lawrence Yun, chief economist for the National Association of realtors. He went on to say,'In a nutshell , the worst of the housing market is over. The new jobs, and increasing population in Utah, should bring a steady stream of buyers into the market this year.' He went on to point out that Utah is in the top five fastest growing states. That will continue to place more demand for homes.
James Wood, director of the University of Utah's Bureau of Ecomomic and Business Research, also maintained that the market had shown signs of stabilizing. He stated that 60,000 jobs were lost in Utah in 2009. However, since May jobs have been consistently created through new employment. Mr Wood also believed we would see rising prices because of more jobs.
Although, buyers most likely have missed the bottom, the market is still a perfect time to buy. The forecast is just at the turning point in the market. Buyers have been waiting for this,the eve of the storm, for over three years. Make the decision now. It's all about timing. !!!