"Healthiest Housing Markets 2009: Fall Update
Hanley Wood Market Intelligence's new and improved Market Health Index now accounts for a market's median income growth.
By:
Boyce Thompson#8 Salt Lake City, Utah
Market Health Indicator: 34.3
With a relatively low unemployment rate of 6.3%, resilient resale pricing, and strong population growth, Salt Lake City hasn’t felt the same pain as other markets. Even so, Salt Lake, which is home to the University of Utah, has lost some jobs during the last nine months, mostly in construction. Existing home prices, which were $212,000 in September, didn’t decline much during the downturn; they still run above 2006 levels, propped up by strong household formation. Interestingly, 75% of the permit activity during the first half of the year in Salt Lake has been in multifamily, reversing a four-year trend in this past Olympic host city.
Busiest builders:
Ivory Homes,
Richmond American Homes,
Woodside Homes, Garbett Homes, Trophy Homes. To View entire
article