The number of single family homes sold in Salt Lake County increased for the fourth-straight month. There were 835 homes sold in May, which was an increase of 4.11% over April’s numbers. While the numbers are still way down on last years numbers (in fact year to date they are 37% lower), at least [...]
Continue reading about Salt Lake County Homes Sold Increase for the Fourth Straight Month
If you are looking for a place to rent, Salt Lake is an expensive place. Rents went up 8.8% from 2006 to 2007, with a further 6 to 8% rise expected this year. This coupled with a vacancy rate of just 4.5% means tough times for those looking for a rental property.
These are not my words, they are from a recent article in Forbes Magazine. According to the magazine article, Salt Lake is the sixth most recession proof city in the U.S. This is based on the fact that the city’s unemployment rate is low, that we are still creating jobs and that the housing market [...]
While places like California and Florida saw their home prices decline over the last year, Utah was a different story. Home prices for the fourth quarter 2007 went up 9.27% compared to the same quarter in 2006, which was the largest increase in all 50 states. What’s more, that was the fifth consecutive quarter Utah [...]
Continue reading about Utah Leads Nation In House Price Appreciation
The Salt Lake high-end housing market recently received a boost, when conforming loan limit went up from $417,000 to $729,750 in Salt Lake County, Tooele County, and Summit County.
This increase means that Fannie Mae and Freddie Mac can now provide loans up to $729,750, which should result in a much-needed boost to the Utah [...]
Continue reading about New Lending Requirements for Jumbo Loans
The median annual home price information for 2007 is now available at Salt Lake County Home Prices , Utah County Home Prices , and Davis County Home Prices. Home prices went up in the vast majority of zip codes in all 3 counties, but not at the same pace as 2006.
Green building trends, and environmentally conscious living, are growing in momentum all across the United States, and included in that movement is the city of Boston, where a first of its kind green residential development recently opened to the public. The Macallen Building in northern South Boston opened to residents in June of 2007 (see [...]
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Here is an interesting article in the Utah Business Magazine on why Utah real estate may not suffer the same as Florida, California and most of the rest of the country. It explains that we are now in more of a balanced market with home prices still increasing, and that the strong economic growth is helping [...]
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The 2nd quarter 2007 home prices are now available for Salt Lake County, Utah County and Davis County. On the surface everything looks OK with the vast majority of zip codes seeing their home prices showing double digit increases compared to prices in the 2nd quarter 2006.
That is until the look at the underlying data. Take the [...]
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Home foreclosures were up 4 basis points from the same time last year. While this is obviously not good news it does need to be put in perspective. Foreclosure rates actually fell in 24 states, and the overall foreclosure rate is still below the 10 year average.
All in all the increase in foreclosures is being [...]
Continue reading about Foreclosures up in the First Quarter 2007