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Utah’s Housing Market: Have We Hit Bottom Yet?
This fall, the national economy started to show signs of recovery from the recession, while home prices began stabilizing or even slightly rising in many U.S. cities. However, past experience shows that the Utah economy, and particularly the housing market, does not always follow national trends. This has certainly been the case over the last decade or so, during which time Utah’s housing market has lagged behind the rest of the nation in both its appreciation and depreciation.
December 21st, 2009 at 3:56 pm
Good Job Scott,
I’m a little surprised on the final tally of decline by area. I though it would be more, but I don’t think were at the bottom yet. With the Treasury Department running out the money to buy mortgage securities we should see a 1% raise in interest rates in the next 6 months. We’ll see how that impacts the market along with raising foreclosures over the next 6 months. I think you’ll see bank actually finalize the NOD out there and take the property back. It was great working with you.
Thanks Tom