According to a report from investment brokerage ARA, A Newark Company, Utah’s multifamily housing market will continue to be robust into 2017. Salt Lake ARA managers Mark Jensen and Greg Ratliff recently released the firm’s “2017 Multihousing Market Report.”
ARA is a nationwide company that focuses exclusively on the multi-unit housing market.
The following is an overview the multifamily market in Utah, according to the report:
Moving into 2017, the Utah multifamily housing market is expected to be strong. Since 2010, there has been a continuous rise in both sales volume and values. For example, multifamily sales volume in 2015 was up 330 percent compared to 2010. Property values increased 8.6 percent annually since 2009. The market is changing and many of those changes began to manifest in 2016.