Salt Lake home prices have increased nearly 47 percent over the past five years, and more than 371 percent since 1991, according to a recent report by the Federal Housing Finance Agency. Nationwide, home prices have increased 32.81 percent over the same five-year period. Over the past year, home prices across Utah increased 9.80 percent, the third highest house-price appreciation of all states, the report said The FHFA House Price Index (HPI) is a broad measure of the movement of single-family house prices. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. (Courtesy of Salt Lake Board of Realtors)
Expert Reactions to the 2020 Housing Market Recovery
America Has a Surprising New Favorite Room in the House
Photo Copyright Marty Gale The family room has long been the favorite room in the house—it’s where homeowners get to spend quality time with other family members. However, as the significant increase in time spent at home during the pandemic has changed preferences,...
How Is Remote Work Changing Homebuyer Needs?
How Is Remote Work Changing Homebuyer Needs?With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their...
Why Homeowners Have Great Selling Power Today
Why Homeowners Have Great Selling Power TodayWe’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their...
Today’s Buyers Are Serious about Purchasing a Home
Today’s Buyers Are Serious about Purchasing a HomeToday’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB)...
Home Sales Surging This Summer
Experts Weigh-In on the Remarkable Strength of the Housing Market
Experts Weigh-In on the Remarkable Strength of the Housing MarketAmerica has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of...
Homeownership Rate Continues to Rise in 2020
Homeownership Rate Continues to Rise in 2020So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had...
Moving America Forward
Kids Go Back to School and Life goes on Says a group of Prominent Physicians
Guidance and Support Are Key When Buying Your First Home
Guidance and Support Are Key When Buying Your First HomeIn June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR):“The...