A Housing shift is expected as the population of our state grows. According to an article in the Salt Lake Tribune, Utah is expected to double its population by 2050. Right now 9/10 people in Utah live in an Urban environment. As our population grows this is going to change.
We are starting to see Millennial's prefer Apartment/condo even townhome type lifestyle. They want to live downtown where all the activity is. The combination of traffic and less land will eventually push people away from the large homes and three car garages. The Millennial's prefer the City Living where they can easily commute to work or extra curricular activities. They are able to bike, walk or take public transit easily. This is their preferred lifestyle.
Utah has always been land of the large homes and lots of land. It will be interesting to watch the shift in lifestyle and also the shift in the real estate market in the years to come. If you are looking to sell or buy a home, condo, townhouse please give me a call. I would love to help you out.
Thank you and have a great day!
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