Despite a few challenges the outlook for the Salt Lake County real estate market in 2015 is positive, according to the Salt Lake Board of Realtors®, which today released the 2015 Salt Lake Housing Forecast report.
“We predict that residential sales will increase by 7 percent to 15,500 sales and the median sales price will increase by 4 percent to $265,000,” said Dave Robison, president of the Salt Lake Board of Realtors®. “Strong job growth, fewer underwater loans and an expanding national economy will benefit the Utah economy and the local real estate market.”
The report noted that in 2014 housing price increases slowed from the sizzling pace of 2013. The median home price today at $255,000 is now at 88 percent of the pre-recession peak price ($291,000) when measured in inflation-adjusted dollars.
For those who qualify, housing is still relatively affordable in the Salt Lake metropolitan area. According to the Wells Fargo National Association of Home Builders Oppor
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