Salt Lake City Ranked 7th – Top Ten Real Estate Markets for Investors

Salt Lake City UtahGood national news has been hard to come by this week in real estate. But the saying, “All real estate is local” still holds very true, as the Salt Lake City metropolitan area was ranked 7th on Inman News’ list of “Top Ten Real Estate Markets for Investors” today. The ranking details some key aspects that makes our market shine amongst other markets that are struggling.

Salt Lake City Market StatsSalt Lake City’s population growth for the last 10 years is 16% and is forecasted to increase 13% in the next decade. Unemployment rate is 7.3%, almost 2 points lower than the nation. Job growth is projected to increase 9% in the next decade. Our median sales price is higher than the national average, but we are bucking the national trend in median sales price change by 1.8%. Our projected 10 year appreciation is 41.1% and our affordability also tops the nation at 78.1%. Our share of foreclosure sales is 10 points lower than the nation and is decreasing, as well as our average foreclosure discount is 18.2 points below the national average. Our % of active loans noncurrent is at 9.2% while the nation is at 12%. the 10 year projected return on investment is 161.6% and the median age of inventory is 86 days, 22 days less than the national average. Lots of good news for Salt Lake City from the folks at Inman News. If you want to learn more about this report and these numbers, please visit Inman News.

 

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About utahREpro

Chris is the managing broker for Prudential Utah Elite Real Estate in American Fork, Utah. His passions include spending time with his family, Real Estate, Social Media, traveling, reading, movies, golf, dirt biking and so much more. Chris is a graduate of the National Association of REALTORS (NAR) Leadership Academy as well as the Utah Association of REALTORS (UAR) Leadership Academy. He has served in many capacities in the real estate industry at the national, state and local levels, including: 2013 Treasurer of the Utah Association of REALTORS 2011 President of the Utah County Association of REALTORS (UCAR) 2011 REALTOR of the Year – UCAR NAR Federal Political Coordinator assigned to US Senator Mike Lee 2011 NAR Strategic Planning Committee 2010 – 2013 NAR Public Policy Coordinating Committee 2011 Dean of the LeadershipUAR Program Chris has been a licensed REALTOR in the State of Utah since 2004. He has been recognized both nationally and locally by Prudential and was inducted into their Hall of Fame in 2010.
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One Response to Salt Lake City Ranked 7th – Top Ten Real Estate Markets for Investors

  1. Pingback: More Great Utah Housing Market News! | utahREpro

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