{"id":240,"date":"2021-01-06T09:26:47","date_gmt":"2021-01-06T09:26:47","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=240"},"modified":"2023-03-10T08:15:17","modified_gmt":"2023-03-10T08:15:17","slug":"salt-lake-city-real-estate-market-trends-fall-2020","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/","title":{"rendered":"Salt Lake City Real Estate Market Trends &#8211; Fall 2020"},"content":{"rendered":"<h2>The Wasatch Front Gradually Bounces Back<\/h2>\n<p><a href=\"https:\/\/www.yardimatrix.com\/blog\/tag\/salt-lake-city-housing-market\/\"><strong>Salt Lake City\u2019s multifamily market<\/strong> <\/a>has been among the most resilient in the country, outperforming peer metros. Although rent growth started to slowly decelerate at the beginning of the year, it promptly rebounded at the end of the second quarter. On a trailing three-month basis through October, rents rose 0.5% to $1,229, while the national figure stayed flat.<\/p>\n<p>The metro experienced less severe job losses than the U.S., as an interval of strong economic development acted as insulation for this interval of volatility. In the 12 months ending in September, employment growth contracted by 3.4%, while the U.S. rate dipped 9.3%. Projects such as the new $4.1 billion airport moved forward due to the significant decrease in air traffic, while other large-scale developments broke ground, undaunted by the ongoing unpredictability. Zions Bancorporation began work on a 400,000-square-foot technology campus in Midvale, while St. John Properties plans to invest $120 million in office and flex\/R&amp;D space in Taylorsville and Springville.<\/p>\n<p>Bucking the national trend, transaction activity endured, and multifamily deliveries\u2014at 3,800 units in 2020 through October\u2014have already surpassed last year\u2019s stock additions. Salt Lake City is positioned to be among the first metros to eventually bounce back from economic disruption, according to a Moody\u2019s Analytics report.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1167-MatrixMultifamilySaltLakeCityReport-Fall2020?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Salt Lake City Report-Fall 2020<\/strong><\/a><\/p>\n\n\n<div class=\"wp-block-spacer\" style=\"height: 46px;\" aria-hidden=\"true\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Wasatch Front Gradually Bounces Back Salt Lake City\u2019s multifamily market has been among the most resilient in the country, outperforming peer metros. Although rent growth started to slowly decelerate at the beginning of the year, it promptly rebounded at the end of the second quarter. On a trailing three-month basis through October, rents rose [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[16,122],"class_list":["post-240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook","tag-salt-lake-city"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Salt Lake City Real Estate Market Trends - Fall 2020 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Salt Lake City\u2019s multifamily market has been among the most resilient in the country, outperforming peer metros.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salt Lake City Real Estate Market Trends - Fall 2020\" \/>\n<meta property=\"og:description\" content=\"Salt Lake City\u2019s multifamily market has been among the most resilient in the country, outperforming peer metros.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-06T09:26:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:15:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Salt-Lake-City-iStock-1180444050.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura Calugar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Salt Lake City Real Estate Market Trends - Fall 2020 - Yardi Matrix Blog","description":"Salt Lake City\u2019s multifamily market has been among the most resilient in the country, outperforming peer metros.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/","og_locale":"en_US","og_type":"article","og_title":"Salt Lake City Real Estate Market Trends - Fall 2020","og_description":"Salt Lake City\u2019s multifamily market has been among the most resilient in the country, outperforming peer metros.","og_url":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-01-06T09:26:47+00:00","article_modified_time":"2023-03-10T08:15:17+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Salt-Lake-City-iStock-1180444050.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Laura Calugar","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-real-estate-market-trends-fall-2020\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Salt Lake City Real Estate Market Trends &#8211; 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