Utah’s Improving Home Prices High in National Rankings

In another sign of Utah’s status as a leader of the real estate recovery in the US, two separate national reports have ranked Utah in the Top 10 of home price improvements.

One report comes from analytics company CoreLogic, which placed Utah in the top 4 spots in 2 of it’s rankings: excluding short sales, Utah’s price increase in homes was 5.3%, ranked #1 in the country. When including short sales, Utah finished fourth at 5.4%.

Then, from the Federal Housing Finance Agency came a report that Utah ranked #8 in house-price appreciation. The FHFA, which regulates giants Fannie Mae and Freddy Mac, said home prices increased statewide about 3% year over year in the first quarter of 2012.

Smart readers will notice some inconsistency in these rankings for the same criteria. I believe the difference is one of time frame, where CoreLogic reports it’s data over a different time than the FHFA. Nevertheless, it’s still a sign that Utah is in the top tier of improving real estate economies in the nation. If you’d like to know how much your home is worth in this brave new world we’re entering, give Josh a call at 801-699-5544, or feel free to contact us using the form on our site.