Here is a great story from Utah Realtor magazine. It seems that we are beating the odds in Utah and increasing in value while the rest of the country will see a decline.
A new report has good news for
Utah homeowners: statewide
housing prices are set to rise
about 2 percent by summer 2012 and
nearly 7 percent during the subsequent
year. The analysis is part of a report that
forecasted home price trends in 384
metro areas across the U.S.
Based on projections from Fiserv
Case-Shiller and Moody’s Analytics, the
report said Utah will do better than the
U.S., which is expected to have a nearly
4 percent price drop.
For this year, Utah home price gains
will be strongest in St. George, according
to the report. From second quarter 2011
to second quarter 2012, home prices
are expected to rise nearly 8 percent. In
Ogden, the increase is forecasted to be
more than 5 percent. Logan prices are
projected to go up 3.5 percent while Salt
Lake prices will be flat.
Provo-Orem is expected to still be
stabilizing, with a slight drop of about 1
percent.
From the same period in 2012
through 2013, home prices are expected
to rebound in all areas of the state.
The report said Salt Lake prices should
increase nearly 9 percent. Provo-Orem
prices should be up more than 6 percent
with Ogden-Clearfield nearly 5 percent
higher. In St. George, prices should
increase 3.5 percent, and in Logan they
should be up more than 2 percent.
While Utah will fare better than the
U.S., the country as a whole should see
improvement by 2013, with more than
95 percent of all metro areas projected
to see some housing appreciation.
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