“We hit the trough in January of 2012,” said Cal Musselman, president of the Utah Association of Realtors. “We’ve had eight months in a row of increased equity.”
He also noted that sales have increased for 18 consecutive months in Utah, signaling growing stability in the state’s housing market. Currently, the market has an estimated 5.7 months of available inventory for sale — another indicator of market strength.
Six months of inventory is considered “the definitive line between a buyers’ market and a sellers’ market,” Musselman explained.
He said conditions are currently very favorable for a significant improvement in the area housing market.
“We think we’ll see more people entering the market,” he said.
E-mail: jlee@desnews.com
Twitter: JasenLee1
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Jasen Lee is a journalist for Deseret News/KSL reporting primarily on business, technology and utilities. Having started in radio, he has reported at KCPW and Metro Networks in Utah as well as WTMJ in Milwaukee and WMAY in more ..
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the thing that blows me away is I read out our way we now have a housing shortage.... how in the world could the world have changed so much in such a few months..... go figure. I am not looking, nor am I selling though, so doesn't make much More..
According to area and state economists, Saint George, Utah is in the midst of an amazing rebound.
All aspects of the economy here on the upswing. Real estate selling very quickly once again, among other positives.
Utah traditionally follows certain trends in Las Vegas and Phoenix so this isn't that much of a surprise. The shortage is due to owners not wanting to list their home during the holidays. That in addition to NO homes being foreclosed on in the More..