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2021-01-12
Utah's 2021 Economic Forecast

• Employment growth at 3.8% – Statewide employment growth is forecast for 3.8%, an increase of 58,000 jobs, which would be the largest single-year increase in jobs in Utah’s history. However, the 3.8% rate of growth has been exceeded in many years, but it would still be the highest growth rate since 2006.

• Salt Lake County Demographic Growth Rate Remains Unchanged – 2021 net in-migration holding steady at about 4,000 and a population increase of nearly 15,000.

• Salt Lake County Employment Recovers – County employment will increase by 25,000 jobs, nearly returning to the pre-pandemic level of 736,000.

• Tight Labor Market Returns – In April, the unemployment rate in Salt Lake County hit 11.2%, but by November it had ped to 4.2%. With the statewide job recovery, the unemployment rate in the county will below 3.5%.

• Increase in Average Pay Remains Modest – The average wage in Salt Lake County is forecast to increase by 2.5% in 2021 to $60,500.

• Residential Construction Stable – Lower levels of apartment construction will offset gains by the single family and condominium sectors as total number of new units remains stable at about 9,000.

Welcome to our Blog!
2021-01-12
Utah's Extraordinary Growth in Jobs and Population

2021-01-12
Salt Lake County’s Housing Shortage

2021-01-12
2020 Single-Family Home Prices up 11.8%

2021-01-12
Growing Concern for Housing Affordability

2021-01-12
Utah's 2021 Economic Forecast

2021-01-12
Outlook for Mortgage Rates

2021-01-12
Salt Lake County Housing Forecast for 2021

2020-01-29
Median Single Family Home Prices in Salt Lake County increase to $378,000 in 4th quarter 2019

2019-01-28
The Gamble of Overpricing Your'e Home

2017-10-30
Salt Lake County single-family home median price reaches $330,000

2017-08-28
Most Salt Lake County Homes Sell for Under $350,000

2017-08-07
Median Single Family Home Prices Reach $327,000 in Salt Lake County

2017-02-07
Is There a Housing Bubble?

2017-02-07
Predictions for 2017: Total Residential Home Sales

2017-01-31
Q 4 Housing Report

2016-02-11
2016 Forecast for Salt Lake area Housing Market

2016-01-25
Local Home Sales Data 4th Quarter 2015

2015-04-27
Mistakes people make when selling a home

2015-04-27
Save for down payment or buy a home now?

2015-04-27
Salt Lake Home Sales Climbed 16% in the First Quar

2015-02-06
Salt Lake County housing market positive for 2015

2015-01-15
FHA Mortgage Insurance Premiums Reduced by 0.50%

2014-02-05
Salt Lake Housing Prices Returning near 2007 Highs

2014-01-27
Salt Lake home sales in 2013 are highest on record

2013-10-31
Condo sales at a 7 year-high

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