Buyer Demand Surging in Utah as Spring Market Begins
Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.
However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).
Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.
Why the increase in demand? Increased buying power.
According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which has led to increased demand.
“Due to the combination of falling home prices and mortgage rates, the income needed to make an affordable mortgage payment (mortgage no more than 25% of income) on a median-priced home with 10% down payment and 30-year fixed rate mortgage decreased from $60,425 in June 2018 to $53,783 as of February 2019, and the difference of $6,642 represents a gain in buying power because one can afford a home purchase at a lower level of income.”
Bottom Line
It appears the spring buyers’ market is going to be much stronger than many had projected. Whether you are selling or buying, this is important news.
*The methodology behind the indices:
The ShowingTime Showing Index
“The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.”
The National Association of REALTORS® Buyer Traffic Index
“In a monthly survey of REALTORS®, NAR asks respondents ‘Compared to the same month last year, how would you rate the past month’s traffic in neighborhood(s) or area(s) where you make most of your sales?’ NAR compiles the responses into an index, where an index above 50 indicates that more respondents reported “stronger” traffic than “weaker” traffic.”
Is Utah Real Estate Finally Cooling Down?
Utah Real Estate prices remain high, but the pace of growth has clearly slowed in recent months. Median monthly mortgage payments in Utah have dropped, improving affordability for first-time homebuyers. Listings are up across Utah, giving buyers more options and...
Utah 2025: Buyers Gain From Balance
Rising listings in Salt Lake suburbs support choice and negotiation. Family-oriented neighborhoods showing long-term value potential.
Where are the most new homes being built in the U.S.? In Utah?
Utah ranks 4th nationally for new home builds, authorizing 18.6 new units per 1,000 existing homes in 2024. Despite a nearly 25% drop in new home authorizations since 2022, Utah's median home price remains high at $535,217. The Salt Lake City-Murray area ranked...
Utah ranks No. 4 for most new homes being built in the US
Utah ranks fourth in the U.S. for new home builds, authorizing 18.6 new units per 1,000 existing homes in 2024. Despite a nearly 25% drop in new home authorizations since 2022, Utah maintains one of the highest median home prices at $535,217. The Salt Lake City-Murray...
Global Vacation Rental Market Grows 5% CAGR by 2033
Global vacation rental market to grow from $92.61B in 2025 to $136.83B by 2033. 5% CAGR driven by tech, personalization, remote work trends, and flexible travel preferences.
The price has reduced for this Listing, check it out Listing Address: 614 W ANDERSON Murray, UT 84123
New Carpet! 4 Bedroom 2 Bath updated Murray home. Granite counters, multiple gathering spaces, hardwood floors, and a large yard. Conveniently located, close to freeway access, IMC, shopping, schools, and canyons.
2025-27 Real Estate: Prices Rise 3.5% Yearly, Building Slows
US home prices are forecast to ↑ 3.5% annually through 2027, the slowest since 2011. Tariffs are expected to reduce construction of budget homes, with 90% of analysts predicting fewer builds
Could a Rate Cut Free Housing’s ‘Stuck Pig’?
Despite Fed rate cuts, 2025’s housing market remains a “stuck pig,” trapped by affordability and structural issues. Median home prices remain 4.2x median income; price gains forecast between 0.6% and 6.1% for 2025.
Utah 2025: Boomtowns Adjust to New Normal
Salt Lake City prices likely to flatten or dip as post-pandemic migration slows. New builds and resale listings ease supply crunch seen in boom years.
Essential Steps to Take for Financial Success Before Buying a Home
Buying a home is a significant milestone that requires careful financial preparation. Before starting the process, assess your financial situation, pay down high-interest debt, and establish an emergency fund. Check your credit score and get pre-approved for a...