How is the current economic quarantine affecting Utah’s real estate market? Join Alicia Holdaway, president of the Salt Lake Board of Realtors®, and other housing experts for a discussion on current housing trends. Just search for “Salt Lake Board of Realtors®” on your podcast app (Apple, Google Play, Spotify, and TuneIn).
According to Brad Bjelke, CEO of UtahRealEstate.com
, low inventory levels are still a challenge for home buyers. That said, pending home sales across Utah (under contracts) increased to a five-year high in March. Jake Breen, former director of the Salt Lake Board of Realtors®, reminds us that challenges are ahead, as showings dropped nearly 50 percent nationwide in the last two weeks of March. “What has been affected in real time at the moment is the luxury market, especially over $1 million,” Breen says. “Affordable housing in Salt Lake is still a hot market.”