Utah’s Housing Growth at Risk?
Rapid price hikes in Salt Lake City and Provo raise serious affordability concerns.
Many buyers priced out, causing declining demand and potential home value drops.
Happy Easter
Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such as egg rolling and egg decorating.
Tariffs Could Add 5% to Home Prices
The US faces a shortage of 4.4M homes, including 1.3M single-family homes for lower-income buyers.
New tariffs on Canadian and Mexican imports could raise home construction costs by ↑ 5%, worsening accessibility.
Home Upgrades Booming by 2032 With 6% CAGR Predicted!
The home improvement market is set to grow from $974.57B in 2025 to $1.46T by 2032, driven by innovation.
The Leading Indicator of Remodeling Activity projects a 1.2% increase in year-over-year home renovation spending for 2025.
Cities With the Most Expensive Homes in Utah
Typical home values in various Utah metro areas show significant increases over the past year and five years. Provo-Orem has a typical home value of $658,066 with a 1-year change of +2.9% and a 5-year change of +49.7%. Salt Lake City’s typical home value is $662,640, reflecting a 1-year increase of +3.2% and +62.1% over five years. Heber's typical home value is $713,289, with a 1-year change of +1.4% and +64.7% over five years. Overall, home values across these areas have shown strong growth.
Continue to full article
Act Now: Prep for Spring Home Buying
Winter is slow, but 2025 will see more sellers returning, possibly leading to a more balanced market.
Buyers should start credit repair now, as spring sees the biggest jump in available homes from February to March.