All Forum Posts by: Rhet Porter

Hi @Toby Johnston and @Logan McKay Zylstra, I'm down in St. George. I work in tech but am a small RE investor and keep a very close eye on the local market. 

A unique thing about the St. George market is most of the current transactions are taking place with buyers from OUTSIDE the county. Primarily due to people relocating here. So while local wages are a factor in home prices, local buyers only account for ~14% of transaction volume. The only other county in Utah that's demand profile is similar is Summit county (bc of Park City. Check out this link and select "demand snapshot")

That said, we've since the market cool slightly the last month. It's still white-hot, but not absolutely euphoric like the last year and a half. There's still limited inventory (~1 month supply) and limited new permits. From demand perspective, we had ~9,300 move to St. George from mid-2020 to mid-2021. My estimate is we roughly added <3,000 homes in the same time (average monthly permits x 12).  

Check out these graphics.