Speaking recently at the Urban Land Institute Utah (ULI) “Trends” conference, Kenneth Perlman of John Burns Real Estate Consulting, said Salt Lake City is among 10 such boom towns across the country. It’s not a secret anymore.
Helping the city’s situation has been:
- Good job growth.
- Unemployment rate remains low.
- Demographics are driving Utah’s housing market; move-up families in their peak earning years; and a lot of young families, compared to the rest of the nation.
- A new wave of retirement by people born in the 1950’s and early ‘60s is causing an explosion of retirees that will continue over the next decade.
Nationally, his consulting firm studies for sales pace, price growth and buyer demand, and “the real estate space, both nationally and locally, are in a really great place. It’s a really exciting time to be in this industry.”
“What we’re looking at going forward…is pretty strong, pretty steady growth,” Perlan said of the housing industry overall.