Current Market Conditions

 

Population                           
  • Population Growth
    • Utah Population Growth from 2006-07:  3.2%
    • Estimated Utah Population Growth 2007-08:  3.1%
    • U.S. Population Growth from 2006-07:  0.9%
    • Estimated U.S. Population Growth 2007-08:  0.9%
  • Net Migration
    • Utah 2007 Net Migration Forecast:  44,252
    • Utah 2008 Net Migration Forecast:  41,200
Jobs                                    
  • Job Growth
    • Utah Employment Growth October 2006-07:  4.3%
    • Utah Employment Increase October 2006-07:  52,500
    • U.S. Employment Growth October 2006-07:  1.2%
  • Unemployment
    • Utah Unemployment Rate October 2007:  2.8%
    • U.S. Unemployment Rate October 2007:  4.7%
Mortgages                           
  • Mortgage Rates
    • Projected 2007 Annual 30-Year Fixed Rate:  6.4%
    • Projected 2008 Annual 30-Year Fixed Rate:  6.5%
    • Projected 2007 Annual 1-Year ARM:  5.6%
    • Projected 2008 Annual 1-Year ARM:  5.1%
  • Foreclosures
    • Utah Delinquency Rate 3rdQuarter 2007:  3.92%
    • U.S. Delinquency Rate 3rdQuarter 2007:  5.59%
Sales                                   
  • Home Sales
    • Utah Homes Sold 3rdQuarter 2007:  9,515
    • 2007 3rdQuarter Sales Down from 2006:  24.62%
    • 2007 3rdQuarter Sales Down from 2007 2ndQuarter Sales:  20.39%
Prices                                  
  • Average Home Price
    • Utah Average Sales Price 3rdQuarter 2007:  $288,307
    • 2007 3rdQuarter Sales Price Up from 2006:  12.91%
  • 5-Year Appreciation
    • Five-Year Utah Appreciation Rate:  54.36%
    • Five-Year U.S. Appreciation Rate:  46.92%