We could use a few more housing options

In the most recent Salt Lake REALTOR Magazine, Adam Kirkham, Salt Lake Board of Realtors President, wrote an article stating that the housing shortages we are experiencing here in Utah, will be with us for a few more years.

The hot market in Utah has led to a higher demand for houses and that demand has outpaced the supply of homes available. The result, especially along the Wasatch Front and Back, is a bidding war with multiple offers on a single home and prices far above the original listing price.

Kirkham states that there are 28,000 households being created each year in Utah and those still do not fulfill the need required for all the buyers. According to the University of Utah, the housing shortage will persist over the next 3 to 4 years, possibly longer.

Many potential buyers and municipalities are looking at higher density housing and mixed use communities as the answer. Daybreak in South Jordan is one example many are looking 
towards.

Daybreak has a blend of townhomes and detached housing, all mixed together that appeal to all age categories. Some younger buyers are liking the prospect of no yard to care for, as well as many older buyers. 

The desired 1/2 acre lot of happiness from years gone by may not be everyone's American Dream anymore. As cities around the state adjust zoning requirements, we will see more and more affluent mixed use and higher density housing available. We are already seeing it here in Wasatch County. The 'one size fits all' rule does not apply to housing here in Utah where our population is growing considerably.

If you have any real estate concerns you would like to chat about, I would be happy to talk with you. If you are frustrated with the housing shortage, give me a call and we can figure out together what the best housing options are for you. 801-631-3430

Brought to you by Heath @ HeathsHomes.com