Utah Real Estate Trends and Statistics Analysis
Housing Affordability Trends
Population Growth: Top Ten States
Annual Average Rate of Change 2010-2016
Job Growth: Top Ten States
Percent Change 2010-2016
Source: Federal Housing Finance Agency, Housing Price Index
Housing Price Index
Percent Change 1991 – 3Q 2017
Sales Price of a Single Family Home
Median Sales Price: Percent Change 1991 – 2017
Source: National Home Builders Association
Average Annual Growth Rates in Median Sales
Price of Home and Median Household Income
Source: U.S. Census Bureau.
Source: U.S. Census Bureau and Ivory-Boyer Construction Database
Utah Housing Unit v. Household Growth
Cumulative Days on Market
Single Family Homes
Source: UtahRealEstate.com
Source: Metrostudy Utah Database
Number of Months Supply
Finished Vacant Inventory of New Homes in Utah
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Drywall: 15%
•
Cabinetry: 40%
•
Roofing: 70%
•
Siding: 148%
•
Lumber: 60%
Hard Construction Cost Drivers
Percent Change 2007-2017
Source: Ivory Homes
Permit and Impact Fee
Percent Change 2007 – 2017
Source: Kem C. Gardner Policy Institute
Source: UtahRealEstate.com.
Sales Price of a Single Family Home
Median Sales Price
Source: UtahRealEstate.com
Source: FRED Economic Data, Federal Reserve Bank of St. Louis
Utah Homeownership Rate
Percent of Utah Households with
Severe Housing Cost Burden
Source: HUD Comprehensive Housing Affordability Strategy
Below median income
22.50%
Above median income
0.08%
Evictions by Block Group
Salt Lake County: 2015
Source: National Home Builders Association
•
Shortage will continue 3-4 years
•
Prices likely to increase
•
Increasing interest rates a challenge
•
Gap between price & income a concern
•
Neighboring states competition also an issue
Outlook
Source: Kem C. Gardner Policy Institute
Kem C C. Gardner Policy Institute
David Eccles School of Business | 411 E. South Temple Street
Salt Lake City, UT 84111 | 801-585-5618 | gardner.utah.edu
Facebook.com/gardnerpolicyinstitute | Twitter.com/KemGardnerInst | LinkedIn
Explore a comprehensive collection of data visualizations depicting the annual average rate of change, percent change, median sales prices, income distribution, and more in Utah's real estate market from 1991 to 2017. The visuals offer insights into the shifts and trends in the housing sector over the years, providing valuable information for analysis and decision-making.
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Presentation Transcript
Below median income 22.50% Above median income 0.08%
Kem C C. Gardner Policy Institute David Eccles School of Business | 411 E. South Temple Street Salt Lake City, UT 84111 | 801-585-5618 | gardner.utah.edu Facebook.com/gardnerpolicyinstitute | Twitter.com/KemGardnerInst | LinkedIn
