St George Quarterly Reports 2019 Year End St George Quarterly Report | Page 2

2019
SOUTHWEST UTAH
REAL ESTATE OVERVIEW
ABOUT THIS REPORT
This comprehensive 2019 annual market report provides an overview of Southwest Utah real estate
markets. We believe our clients should have access to information that facilitates thoughtful real estate
decisions. The markets across Southern Utah remain strong with highly segmented areas. The various
cities, their neighborhoods, and the outlying areas differ significantly in terms of price, home type,
features and amenities. These statistics cover entire areas and are general in nature.
Southern Utah is one of the fastest growing areas in the country. The beautiful backdrop and 300+ days
of sunshine per year attracts over two million visitors annually. The desert climate promotes year-round
recreation and leisure activities, which includes many challenging golf courses. Several construction
projects are currently being built and changing the scenery across Southwestern Utah to accommodate
the population increase.
As we launch into 2020, economists and business professionals are debating if we will see a downturn in our
economy. While a correction is inevitable, we believe real estate will not lead the way as it did in 2008. The
cause of that correction was a bubble in the housing market created by lack of discipline and oversight in the
mortgage industry. Historically, housing does quite well in lower interest rate environments.
Current positive indicators for real estate include:
1. Near historical low interest rates
2. Relative global “safety” in US investments
3. The strength of Utah’s economy and population growth
4. Generally constrained inventory
Data interpretation, judgment, and historical context are key elements in making informed decisions: Contact
your Berkshire Hathaway HomeServices Utah Properties agent for guidance on navigating the market.
Stephen C. Roney
Chief Executive Officer & Owner
Berkshire Hathaway HomeServices Utah Properties
*Data as of 1/2/2020
For all data, we have used a median sales price and an average sales price. The median is the middle point of all prices—half the sales are less than the median
and half the sales are more. The average is all the property prices added together and then divided by the number of properties. The difference between the
median and the average is that the median is not as affected by outlying very large or very small sale numbers, whereas the average can be skewed significantly
by one very high or very low sales price. We believe it’s important to use both median and average in order to give a holistic view of the market.
All statistics are based upon Wasatch Front Regional MLS data for the period of 1/1/19 to 12/31/19.
YEAR END
2019
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