The Salt Lake Board of Realtors recently hosted its annual Economic Forecast event, featuring insights from leading experts, including James Wood, Ivory-Boyer Senior Fellow at The Kem C. Gardner Policy Institute, and Lawrence Yun, chief economist of the National Association of Realtors.
Wood told attendees that the overheated asset markets of 2020-22 contributed to today’s high inflation, rose home prices and elevated mortgage rates. As a result, home price growth has moderated, with the Salt Lake metro area ranking 28th out of 227 U.S. metros for the highest home prices.
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