08.06.07
Utah Investment Opportunities
As Utah continues to increase in home price appreciation, investing in real estate and property continues to be a smart idea. Home prices rose 6.28 percent this year in the last 12 months, ranking Utah 35th among all states in the percent change in prices, according to the Office of Federal Housing Enterprise Oversight’s house price index. In 2003, Utah was ranked last in price appreciation. Although the Utah rate of increase is not as high as other states, some Utah markets are higher than the overall state average. In Salt Lake County, there was an 8.09 percent increase from last year in the price of single family homes. Although Salt Lake County may be the state’s largest real estate market, Utah county continues to grow, with house prices up more than 19 percent, and condo prices up 15 percent. Washington, Weber, and Davis counties followed suit with home prices up 21, 18, and 10 percent respectively. The resort town of Park City also continues to grow along these rates of the before mentioned counties. According to local real estate agents, Utah is undervalued and more growth is expected in the near future. Investing in a Utah real estate opportunity is sure to produce profits in home and condo properities throughout the state.