Well, foreclosures are at a record high nationally and Utah is beginning to feel the pain of those foreclosures as people in adjustable rate mortgages and interest-only loans are struggling to keep afloat. Much of Salt Lake's home prices are falling and will fall a little more, but in Logan and Northern Utah it has been a bit of a different story. The market was protected by a slower pace of sales and as a result didn't appreciate at as fast a rate. As a result, the lone bright spot in Utah real estate has been Logan, which is projected to meander through 2009 with slower home sales on modest forecast appreciation of 2.0% on average. This might not be the best real estate market, but we are doing much better than the rest of the state.
http://www.housingpredictor.com/utah.html
Sunday, January 18, 2009
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