UTAH HOME PRICES HAD THE LARGEST YEAR OVER YEAR GAIN!

The Office of Federal Housing Enterprise Oversight recently reported that home prices were up 5.9% in 2006, the slowest price gain since 1999. In 2005 prices were rising at more than 13%.

"These data show that, on the whole, prices are still rising, albeit at a much slower pace," said James Lockhart, director of OFHEO. "This suggests that house price appreciation, is for now, more in line with historical norms"

However, Provo, Utah (19.9%) and Salt Lake City, Utah (19.8%) were among the fastest price gains and only 25 of 282 cities showing lower prices on a year-over-year basis.

Utah has the largest year-over-year price gain at 17.5%, followed by Wyoming, Idaho, Washington and Oregon. Michigan was the only state with lower prices than the prior year.

Although not included in the report, Park City, Utah significantly exceeded the overall Utah state gain and our market remains strong.

If you are interested in Park City property, please do not hesitate to contact us at http://www.jimandbillie.com/.

Jim Harsch

ABR, CLHMS, e-Pro

RE/MAX Mountain Properties

1755 Prospector Ave. Suite 101

Park City, UT 84098

435.640.5106 Cell

435.615.6637 Home Office

435.615.6638 Home Fax

435.647.0606 Office Fax

866.485.8067 Toll Free Fax

http://www.jimandbillie.com/

http://www.parkcityjournal.com/

jharsch@mwutah.com