One realtor sees “signs of hope” in Utah housing market
Jun 14, 2022, 9:00 PM
Eviction filings in Utah are on the rise. According to the Rental Housing Association of Utah, there has been a 46% increase in evictions in the first six months of this year compared to the same time in 2021.
SALT LAKE CITY — The housing market in Utah has pushed the home prices out of reach for many families. However, one Utah realtor says home listings are up and sales are down, leading to what she calls “signs of hope.”
Devi Cooper, of the Northern Wasatch Board of Realtors, told KSL NewsRadio’s Dave and Dujanovic that sellers can’t have everything all their way all the time.
“Sellers need to be realistic here,” she said. “We can’t expect everything all the time. They had their little moment. We’re correcting now with the interest rate. Go ahead and ask for some seller closing costs and use that money to buy down your rate.”
According to Cooper, fewer properties are seeing multiple offers above asking price as interest rates rise.
“You will still see them,” she said. “But you are not seeing go much more above ask or you’re not seeing paying above with cash.”
Mark Jones contributed to this article.
Dave & Dujanovic can be heard on weekdays from 9 a.m. to noon.
Read more:
- Utah’s hot housing market and high inflation rate go hand in hand
- Gov. Cox says housing problems in Utah are worsened by Airbnb, Vrbo
- Senator Lee proposes selling BLM land to ease housing shortage
