Utah?s Shining Real Estate Forecast

Arthur C. Nelson, director of the University of Utah?s Metropolitan Research Center, made forecasts for the state?s housing market for the next twenty years at a recent conference.

His research indicates that by the year 2030, Utah will be the fastest growing state in the nation (Utah is currently number two, behind Wyoming).

Nelson also predicts another 1.5 million residents on top of the 2.7 million already here. He also predicts 700,000 new jobs will be created.

Of course that means more houses will need to be built ? a lot more houses. Nelson estimates that between Logan and Provo, over 400,000 units will need to be built, which is nearly a 50 percent increase over what is currently available today.

Looking more short-term, Nelson said, ?Between 2010 and 2011, we?re going to have to build 100,000 new housing units in Utah to meet the needs of pent-up demand and growth by the end of 2011.? Nelson feels that ?the bottom has passed and we are going to be inching up, and 2011 and 2012 are going to be extraordinary years for homebuilding.?

There?s never been a better time to buy than now, and Nelson?s research demonstrates the long-term viability of Utah?s housing market. Utah real estate is a sound investment.

If you are looking for Park City Utah real estate or buying a second home in Utah, check out Red Ledges which is a private, four-season mountain golf community with a Jack Nicklaus Signature Course and nine-hole Nicklaus Design short course, a Cliff Drysdale Tennis Academy, Jim McLean Golf School, spacious equestrian center, and vibrant village center with heated pools, spa, kids club, adventure cabin, and much more.

Original Source: HomeSpace Salt Lake City