Headed To The Beehive

Utah is blowing up. It’s been blowing up for several years now. Multifamily vacancy, for now, is less than 5.00%. Our unemployment rate is near 3.00%. The state’s economy is expanding exponentially. And people are moving here in droves, primarily from California. Per the article, 19,000 people moved to Utah from California in 2021. I’m guessing that number was eclipsed in 2022 and that number will be eclipsed in 2023. I moved to Utah in 1982, coming from Colorado and I hardly recognize the place. Traffic is noticeably worse, lines for everything are longer, and ‘competition’ is far more noticeable (for restaurants, movies, concerts, theater, etc.). The upside? Our population is far more diverse and more highly educated…both good things. The columnist provides a plethora of data that can be a bit overwhelming. And if you’re a Utahn, take a moment to digest it all and compare it to your recent experiences in the Beehive State.
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.
Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top