If you work as a REALTOR® or are on the path to homeownership in Utah, you know our housing market is in trouble — Utah is now the nation’s 7th most expensive housing market. Rising material costs and high interest rates are part of the problem, but fixing those issues alone won’t improve our skyrocketing home prices. To bring down home costs in Utah, we need to get the government out of the free market’s way and fix the imbalance in our supply and demand.

Utah’s housing supply is at an all-time low, and demand continues to climb, leaving Utah with a staggering 40,000- unit gap across the state. This has caused Utah’s housing prices to skyrocket, leaving Utah families with a nearly impossible path to homeownership.

And it doesn’t make sense. Where are all the houses if the demand for housing is up and Utah has builders willing to construct new homes? Because we all know that when demand goes up, supply is supposed to follow.

The answer is that Utah’s housing market is tied up in government red tape. Government regulation impacts nearly every aspect of new housing, from mandated community amenities to lot sizes and even the width of neighborhood roads.

Utah needs more housing, but for the free market to deliver, the government needs to get out of the way. Supply-based solutions are the only way to get Utah’s market back on track.

Tell your legislator to support free market solutions for Utah’s housing market.

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