SANDY (Jan. 26, 2017) – Troy Peterson, managing broker and owner of Sandy-based Equity Real Estate Solid, has been elected and installed as the 2017 president of the Salt Lake Board of Realtors®, a trade association making up more than 7,500 real estate professionals.
Peterson earned his real estate license when he was 21 years old. Over the past 22 years, Peterson has built a successful real estate practice. In 2016, Equity Real Estate Solid closed 2,822 home transactions. When measured by the number of agents, Equity Real Estate is the largest real estate firm in Utah.
“The housing market is the backbone of the economy,” Peterson said. “Real estate construction accounts for nearly $1 trillion of the nation’s economic output. Without the housing market, our economy does not exist.”
Peterson believes the 2017 Salt Lake housing market offers many opportunities for home sellers and buyers. Demand for housing will continue to accelerate this year as more businesses and families choose to make Utah home. The U.S. Census Bureau recently ranked Utah the “Fastest Growing State.” Utah’s population is now at 3.1 million people, nearly 300,000 more people than in 2010. More than two-thirds of those people live along the Wasatch Front.
Peterson also noted a study that said 70 percent of all homes sold in the third quarter of 2016 in Salt Lake City were affordable to families earning the area’s median income of $74,000.
About the Salt Lake Board of REALTORS®
The Salt Lake Board of REALTORS® is the Wasatch Front’s voice of real estate and the No. 1 source for housing market information. Established in 1917, the Salt Lake Board of REALTORS® is a leader in protecting private property rights. As Utah’s largest real estate trade association, the Salt Lake Board of REALTORS® assists its members to better serve the public through continuing education, advocacy and a professional code of ethics.