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Utah was #1 in House Price Appreciation in 2007!

According to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO), Utah real estate sales were number 1 in the list of states that had "...positive four-quarter appreciation" in 2007...".  This report has a negative title, but it has lots of positive data.  The list of states and their ranking by appreciation over 2007 is on page 25 of the report

80% of states had positive appreciation in 2007 according to page 25 of the report.  And, of the 291 cities monitored in the report, 65% had appreciation.  Statistics can be used to make any point you want.  This report uses a few different set of statistics to show different aspects of the housing market.

US real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run.

The report can be found at:  http://www.ofheo.gov/media/pdf/4q07hpi.pdf

Happy Selling and Listing!

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Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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Comments

Hi Heath! 

Imagine my surprise to find my state of Utah mentioned in a Cape Cod blog! It's awfully hot here today so I'm sure many of us wish WE were in Cape Cod along with you.

I am a Real Estate Brokerage Owner and Broker in Ogden Utah.  I'll read the report that you posted a link to (btw thanks for posting that) with much interest.  It is true that real estate sales in our state are indeed very vigorous.  I am mega busy with Buyers, many of whom are relocating in from other states and even coming from foreign countries.  Homes here are still appreciating, with the notable exception of some Salt Lake City slowdown areas. 

I have a friend in Stamford, Conn. who is looking at a home priced at $750,000. It has 3 beds 2 baths, 1,200 sq. ft., shaped like little square box, and sits on .3 acres.  I nearly fainted when he sent me the information.  I sent him back some listings from the Utah MLS that are literal mansions in comparision.  Same price!  Aren't the differences across the country just amazing?   

Well, I must get back to work.  Thanks for the nod from across the country!

Jennifer Bunker, CRS, GRI Owner Broker
Coldwater Creek Properties
Ogden Utah
www.jenniferbunker.com

 

Posted by Jennifer Bunker over 12 years ago

Thanx for the note Jennifer.  My real estate company is on Cape Cod (capegroup.com), but I have a web page for every town in he US (reindex.com, and I added you to Ogden UT).

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) over 12 years ago

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