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The Difference a Year Makes for Homeownership
The Difference a Year Makes for HomeownershipOver the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant...
Holidays Aren’t Stopping Homebuyers
The Holidays Aren’t Stopping Homebuyers This Year Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active...
Utah Forbearance Problems
Are Home Prices Headed Toward Bubble Territory
Are Home Prices Headed Toward Bubble Territory?Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is...
Utah ranks in the Top 10 states when it comes to the highest percent change in house appreciation, according to the House Price Index by the Federal Housing Finance Agency. The report noted that Utah home prices have appreciated 46.03 percent in the past five years. Nevada posted the highest appreciation at 81.84 percent. Connecticut was the lowest at 7.91 percent. The U.S. five-year average was 34.71 percent. Salt Lake City ranked No. 22 of 383 U.S. metropolitan areas in highest appreciation. Over the past five years home prices in the Salt Lake City area have increased 47.24 percent. The HPI is a broad measure of the movement of single-family house prices. It serves as a timely, accurate indicator of house price trends at various geographic levels. Written by Salt Lake Board or Realtors