Utah Housing still booming
According to the Salt Lake Tribune Utah housing is still doing well.
Utah’s home price appreciation, the worst in the country just three years ago, is now the 10th best nationwide.If you found this post helpful, consider donating to my coffee fund!
Home prices statewide rose 15.2 percent in the year that ended in June, according to a report released Tuesday by the Office of Federal Housing Enterprise Oversight, a government agency that tracks housing values nationally. Utah moved into the top 10 from No. 15 in the agency’s last report three months ago.
Nationally, home prices rose only 10.1 percent in the year that ended in June, reflecting a downturn seen in markets throughout the country that experienced a rapid run-up in prices in the past several years.
Salt Lake City economist Jeff Thredgold, a Zions Bank consultant, believes Utah may be ranked sixth or seventh in home price appreciation by the end of the year.
He attributes that rosy outlook to Utah’s strong economy, which continues to outperform much of the rest of the country.
In addition, “Home prices are still reasonably cheap here, compared with neighboring states,” he said, which tends to fuel investment in the area.
That said, he expects appreciation along the Wasatch Front to kick down into the 8 percent to 12 percent range next year.
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
- What Happens When Demand for US Debt Dries Up? Over a year ago, I wrote about China threatening to stop buying US Treasuries. According to an article in the New York Times, it now looks like China is losing it's appetite for US debt : In the last five years, China has spent as much as one-seventh of its......
- High home prices causing Californians to flee The New York Times 7th November edition ran an interesting article - Saying Goodbye California Sun,Hello MidwestIt basically mentioned what I've been telling people for nearly a year now. Once housing starts getting too expensive, people are going to start moving to cheaper places. Last year 100,000 more people left......
- Housing Numbers Disappoint Sales of new U.S. homes declined for the second consecutive month in February, and the nation's supply of unsold homes continued to rise, an indication that the weak housing market has yet to hit bottom.The Commerce Department reported yesterday that sales of newly constructed single-family homes fell 3.9% last month......
Related Websites
- 500 More Useless Facts [/caption] Most American car horns honk in the key of F. The name Wendy was made up for the book "Peter Pan." Barbie's full name is Barbara Millicent Roberts. Every time you lick a stamp, you consume 1/10 of a calorie. The average person falls asleep in seven minutes. Studies......
- Gas up your car with your HELOC This article on MSN.com -- Oil Spike Won't Cause Oil Shocks of Past -- didn't exactly send a cold chill down my spine, but I'd still worry about it. High oil prices are a tax on our economy. There's only so much oil. If more people want more of it,......
- U.S. Real Estate Markets With Consistent Price Appreciation Buying home, condo or any other real estate in a market that is protected from a bursting bubble is every investor's dream. Knowing where to look for these bubble-proof markets and how to identify them is crucial. There are some important factors that investors should consider when searching for......
[All content is copyright of Living Off Dividends & Passive Income]
Leave a Reply