A new study out of the Bureau of Economic and Business Research at the University of Utah’s David Eccles School of Business recently found that this most recent housing cycle has shown the slowest recovery of any post-World War II housing cycle.Published in BEBR’s latest issue of “Utah Economic and Business Review,” the study analyzed the current housing cycle. The study specifically explored the impact of the Great Recession on Utah’s housing industry, comparing Utah with the rest of the nation. The current cycle has had a number of unique characteristics: falling housing prices record levels of foreclosures and underwater mortgages, a shrinking job market and the lowest mortgage rates since the 1950s.
Although Utah’s housing market has struggled, its real estate industry has fared better. Existing home sales in some Utah counties have recovered 80 percent from the pre-recession peak and the median sales price of a home has fully recovered.
For the entire article, including notable findings: BEBR
