In an article in the Deseret News today, University of Utah Econmists forecasted that the Wasatch Front real estate market has bottomed out. They predict that Northern Utah Real Estate will see a slight increase in home sales this year, but that prices will still see a slight decline. Starting next year, prices will likely rise again.
This report was mostly focused on real estate in Salt Lake, so the trends in Logan will likely be different. We are generally behind the curve, and things happen here after they happen in the Salt Lake area.
According to Chris Nelson, a professor of city and metroplitan planning:
“Between 2010 and 2011, we’re going to have to build 100,000 new housing units in Utah to meet the needs of pent-up demand and growth by the end of 2011,”
“The bottom has passed and we are going to be inching up, and 2011 and 2012 are going to be extraordinary years for homebuilding.“
via Deseret News | Utah outlook on housing is improving. PNPPTQZQYZEU