Real Estate Market
In a recent study by the Utah Association of Realtors, when people were asked what are the top three challenges in the Utah Housing Market, the number one response was ‘lack of housing affordability’. Second was the ‘current state of the economy’ and third was ‘difficulty in getting a loan’. The question is, is this [...]
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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.
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 [...]
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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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