Utah Economy Doing Well!
No Better Time To Buy!
Our Utah Economy is doing well according to Salt Lake Board of Realtors James Wood. The number of new Utah jobs is at 30,000 a month and this should continue. A growth of 2.6% over 2010, putting Utah as 4th in job growth across the nation.
Incomes are predicted to increase allowing more affordability and should keep interest rates low.
Medium income is $56,000
Medium Home Sold is $198,000
Those numbers mean 70% of our population can afford a home.
Considering the supply of homes on the market, multiple offers are happening more often. Pent up demand is coming soon. Those number of people living with family or friends will be soon looking to move out and buy a house.
In Utah, housing is a good investment, it helps with equity buildup.
Because of REO and short sales, prices were under pressure in 2011. REO and short sales ended up being a third of all sales.
Notice of defaults are coming down and fell 28% in 2011. Foreclosures are on the curve and are coming down as well.
So this leaves us with No Better Time To Buy!
Linda Secrist's Salt Lake City Real Estate Home Page • Salt Lake City Real Estate • Draper Utah Real Estate • Holladay Utah Real Estate • Sandy Utah Real Estate • Tremonton Utah Real Estate • South Jordan Utah Real Estate • Salt Lake Cities Top Real Estate Agent
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