Salt Lake Board of Realtors Hosts Economic Housing Forecast

On July 17th 2019, the Salt Lake Board of Realtors hosted a Business Luncheon for members to introduce the Board of Director Nominees for 2020 as well as other annual association business, including a reminder that membership fees are due July 31st.

The Board also announced the introduction of a "New Mandatory Three-Hour CE Course," required by ALL Real Estate Agents who are in need of active license renewals in 2020. This will continue to be required every renewal cycle from here on out.

The Salt Lake Board has stated that this course will be offered by August 2019 for those agents who require license renewals in January 2020. Exact dates TBD.

For questions regarding this new residential course, please contact the Utah Division of Real Estate 801-530-6747

However, the true highlight of this meeting was special guest speaker, Dejan Eskic, a Research Analyst and Professor at the University of Utah. Eskic, presented a highly informative Economic Forecast regarding the housing market in Utah for the next year claiming that this could be the "Best Year Ever for Wasatch Front Housing." The analyst predicts that Utah will stay out of an economic bubble for the next year and a half.

"Utah now ranks No. 1 in the nation for building new housing, but needs even more of it to help lower high prices..."

...resulting in an all-time high for the purchasing of town homes and condos, especially for first-time home buyers. However, the inventory for available homes and new constructions remain low at 50% due to builders not being able to produce new constructions fast enough as a  result of the lack of labor in the industry.

Get the presentation statistics HERE.

Watch the full presentation HERE.