BUSINESS + ECONOMY

One realtor sees “signs of hope” in Utah housing market

Jun 14, 2022, 9:00 PM

Utah airbnb rentals rising interest rates affecting millennial home buyers...

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:

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Business + Economy

Ahead of the NHL to Utah party on Wednesday, Utahns crowded the plaza of the Delta Center and waite...

Simone Seikaly, Eric Cabrera, Emma Keddington, Adam Small

Utahns showing up for the NHL in Utah

Ahead of the NHL to Utah party, Utahns crowded the plaza of the Delta Center and waited in long lines for the party to start.

6 hours ago

ftc building shown, a new rule would bar noncompete agreements for most...

CHRISTOPHER RUGABER AP Economics Writer

New federal rule would bar ‘noncompete’ agreements for most employees

The Federal Trade Commission voted Tuesday 3-2 to ban measures known as noncompete agreements.

16 hours ago

A photovoltaic panel shines in the sun at the Appaloosa Solar 1 project near Cedar City. Rocky Moun...

Derrick Jones

Rocky Mountain Power withdraws from renewable energy partnership

Rocky Mountain Power has pulled out of a partnership with many Utah communities whose goal is to use 100% renewable energy by 2030.

16 hours ago

The Delta Center ice prior to Ryan Smith, co-founder and chairman of Smith Entertainment Group, Ash...

Heather Peterson

NHL expected to bring new customers to downtown Salt Lake City businesses

With a new National Hockey League team coming to town, the downtown economy is expecting a boost in profits. 

18 hours ago

ftc building shown, a new rule would bar noncompete agreements for most...

CHRISTOPHER RUGABER, Associated Press

New federal rule would bar ‘noncompete’ agreements for most employees

FTC officials asserted that noncompete agreements harm workers by reducing their ability to switch jobs for higher pay.

1 day ago

FILE: Mountain America Credit Union 660 South. 200 East, in Salt Lake City. A new report from USA T...

Don Brinkerhoff

Utah-based credit union named a top five large business employer

Mountain America Credit Union employees helped land the company among the top five large businesses in America.

1 day ago

Sponsored Articles

a doctor putting her hand on the chest of her patient...

Intermountain Health

Intermountain nurse-midwives launch new gynecology access clinic

An access clinic launched by Intermountain nurse-midwives provides women with comprehensive gynecology care.

Young couple hugging while a realtor in a suit hands them keys in a new home...

Utah Association of Realtors

Buying a home this spring? Avoid these 5 costly pitfalls

By avoiding these pitfalls when buying a home this spring, you can ensure your investment will be long-lasting and secure.

a person dressed up as a nordic viking in a dragon boat resembling the bear lake monster...

Bear Lake Convention and Visitors Bureau

The Legend of the Bear Lake Monster

The Bear Lake monster has captivated people in the region for centuries, with tales that range from the believable to the bizarre.

...

Live Nation Concerts

All the artists coming to Utah First Credit Union Amphitheatre (formerly USANA Amp) this summer

Summer concerts are more than just entertainment; they’re a celebration of life, love, and connection.

Mother and cute toddler child in a little fancy wooden cottage, reading a book, drinking tea and en...

Visit Bear Lake

How to find the best winter lodging in Bear Lake, Utah

Winter lodging in Bear Lake can be more limited than in the summer, but with some careful planning you can easily book your next winter trip.

Happy family in winter clothing at the ski resort, winter time, watching at mountains in front of t...

Visit Bear Lake

Ski more for less: Affordable ski resorts near Bear Lake, Utah

Plan your perfect ski getaway in Bear Lake this winter, with pristine slopes, affordable tickets, and breathtaking scenery.

One realtor sees “signs of hope” in Utah housing market