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WORDS OF WISDOM Real Estate News and Tips

Archive: February 2018

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CURRENT REAL ESTATE MARKET

62% OF SALT LAKE HOMES SOLD ARE AFFORDABLE

According to the National Association of Home Builders, 62.1 percent of all new and existing homes sold in the fourth quarter of 2017 in the Salt Lake metropolitan area were affordable to families earning the area's median income of $75,400. Salt Lake had a greater affordability index than neighboring cities like Boise, Denver, Fort Collins, Las Vegas, and Sacramento. Nationally, 59.6 percent of homes sold in last year's fourth quarter were affordable to a family earning the U.S. median income of $68,000.

 

©Salt Lake Board of Realtors. February 26, 2018.

CURRENT REAL ESTATE MARKET

Forbes: Utah County 2nd-Best Place For Housing Investment

PROVO, Utah (AP) — Forbes says owning a home in Utah County is a good investment.

The Daily Herald reports the Provo-Orem metro area — which includes much of Utah County — came in second on the business magazine's 2018 list of the best places to invest in housing.

Only Orlando, Florida, came in ahead of Provo-Orem. The only other Utah area to make the list was Ogden-Clearfield.

The study analyzed markets on five measures: one-year job growth, three-year population growth, one-year home price growth, affordability and Local Market Monitor's own three-year home price forecast.

The article says the average home price in the area is $266,169. Forbes says the area has a one-year home price growth of 10 percent and the forecast for the next three years is a housing price growth of 31 percent.

The Daily Herald, http://www.heraldextra.com
Feb 8, 2018