The national housing boom has hit Salt Lake City

Author:	Lucas Jones
Source:	Homes Discovered
Date:	April 7, 2006

The national housing boom has hit Salt Lake City. Known for many things including the Rocky Mountains, salt flats, and Mormons, Utah is now feeling the effects of a hot housing market.   Generally a stagnant housing market Utan now is seeing a dramatic increase in home appreciation rates.  The Salt Lake County housing rates had the biggest increases in appreciation in the state.  In certain small markets, mostly resort areas, appreciation rates skyrocketed. Some experts feel that Utah is undervalued.  Now many out of state investors are eyeing the potential in this market.  Utah is experiencing some market spill over from it's booming neighbors such as Nevada and Arizona.  The reason for much of the growth is due to impressive economic growth as well as overpriced real estate in neighboring markets.  People see Utah as having bargain priced real estate. Nevada currently has the nation's fastest appreciating home prices.  Arizona is also one of the top states for appreciating home prices. Utah has many academic and higher education institutions which produce a well-educated workforce.  Utah also has a pro-busniess climate and attracts businesses in the technology, pharmaceutical, and biomedicine fields, among others.  Utah boasts the second fastest net job creation in the country.

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