It feels like at least once a week, I open my homepage and there is some headline or another that is talking about the National Market and how bad it is. I don’t understand how they can write things like that. The National Market is made up. Different states and different counties have uncommon markets. What is going on in Utah is very different from what is going on in Florida. The market in Utah County is different from the market in Wasatch County. The market in Springville is different from the market in Alpine.
So all those headlines about the National market and the drop it is taking isn’t altogether true. If you want to know what the market is doing. Please call your local agents. Talk to a professional who knows your area. Preferably a season agent who has seen both a slow and a quick pace market. They can tell you what is really going on and how changes are going to affect you.
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To stay current on what is really going on in the Utah County Area, read our blog. We post current statistics and articles about what is really going on in today's local market.
GET THE FACTS STRAIGHT!
Utah has strong economic fundamentals.
The real estate market is stable, and buying a home here is an excellent long-term investment.
OUR FUNDAMENTALS ARE STRONG
1. Utah has demand for homes
In 2007, Utah had record population growth of nearly 85,000 people, which translates into about 25,000 to 30,000 new households. With the state expected to add another 84,000 people to the population in 2008, this growth is forecasted to continue into next year and beyond.
2. Utahns are employed
About 52,500 new jobs were created in Utah over the past year, and wages have been growing between 5 and 10 percent. Utah unemployment has averaged about 2.6 percent over the past year, nearly twice as good as the U.S. average of 4.6 percent.
3. Afforable loans are avaiable
Mortgage interest rates are at historic lows, hovering around 6 percent. Conventional financing is available for qualified borrowers, and FHA loans are becoming popular for those with less-than-perfect credit. Even jumbo loan rates are edging downward.
OUR MARKET IS HEALTHY
Utah home appreciation contiunes to outperform that of any other state in the country. With home prices increasing 12.9 percentover the past year, compared to the national increase of 1.8 percent during the same period, Utah has consistenly led the U.S. in home price gains.


