Utah Population Surge Means Houses Will Sell In Salt Lake
They must need Homes. They must need Condominiums or Town Homes. They must be looking for Real Estate all over the Salt Lake Valley. Who am I talking about? The 84,425 new residents that showed up in Utah last year.
According to the Brandon Loomis article in the Friday, Nov, 16th Salt Lake Tribune ," more people than ever before moved to Utah last year". State officials said that the Utah population grew last year at the rate of about 10 people every hour. That's REAL GROWTH. But I don't know what that means to you and me.
I hope it means people will be buying new homes in South Jordan and Riverton, or Luxury Homes in Herriman, or a Condominium or Town Home in West Jordan. I hope If your selling, that they will buy your home. What I'm saying is, I couldn't immediately see the point of the article. I did however think there was some interesting stuff in it. Let me share it with you, and you make sense of it. Or not. Maybe you can write back and tell me what I missed. Or maybe by the time I'm finished, I'll get it.
Here's some of the stuff I thought was interesting:
Fastest growing counties:
1. Utah
2. Washington
3. Wasatch
4. Summit
5. Morgan
Three largest counties:
1. Salt Lake
2. Utah
3. Davis
Utah grew at a rate of 3.2 per cent to nearly 2.7 million residents last year.
Job growth was approximately 4.5 %, compared to the national rate of only 1.5 %
Salt Lake County population increased by 22,530 people.
Births rose to 53,953, the 10th record in 11yrs, thanks to the states "echo boomers"of the 80s.growing up and parenting a second baby boom.
"The internal need of the 20 year olds produces the demand for houses". "People moving in supply the labor".
I get, I get it!! There it is, the key to the article, and the key to a prosperous Real Estate Market in Utah for years to come. All in the last two sentences. High birth rates, 20 year olds coming of age, not wanting to leave the area, but wanting to buy a starter home. Continual pressure from below, for home owners to move up to a new home, and on and on, and on. It's a cycle, a home demand cycle that will get stronger every year.
Your a part of that cycle, and you may need some help. If you think you might, visit my website, Utah Homes see what I offer. Or call me @ 801-567-0946