Utah Real Estate News Clips - Utah Real Estate

Utah ranks first in appreciation for the second quarter in a row
June 22, 2007

State sees 17 percent gain in home prices

Despite national home prices increasing only 4.3 percent in the first quarter of 2007, prices in Utah were up 17.01 percent during the same time period, making it the state with the highest appreciation in the country, according to an Office of Federal Housing Enterprise Oversight report. This is the second quarter in a row that Utah has taken the top spot, coming in at No. 1 during the fourth quarter of 2006 with an appreciation rate of 17.6 percent.

Utah’s metro areas also fared well during the beginning of the year. With prices increasing 19.7 percent, the Provo-Orem area had the second-greatest rate of appreciation among metro areas in the U.S. Not far behind was Salt Lake City coming in at No. 3 with a 19.1 percent rate of increase. The Ogden-Clearfield metro was ranked No. 5 at 15.70 percent while Logan came in at No. 30 with prices rising 10.18 percent.

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