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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Salt Lake City
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The host of the 2002 Winter Olympics gets a gold medal in some areas, such as excellent job growth of 4.5 percent. Single-family construction reached a record high in 2005 and stayed at those levels last year, as well. But double-digit jumps in home prices have created another market Ingo Winzer lists as overpriced while Fortune reports the prices are set to increase, by 5.4 percent this year and 1.9 percent next year.
4th quarter 2006: $223,600
Median price 4th qtr 2005: $182,300
% change: +22.7%
Projected avg price end of 2007: $288,490
Current avg 30-year fixed rate: 5.80%
Current avg 5/1 ARM rate 5.60%
*Affordability rating: 5.1
Foreclosures in Jan. 2006:
(1 for every 794 households)
431
Foreclosures in Jan. 2007:
(1 for every 660 households)
519
Change in foreclosures: +20.42%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $182,300
Jan. '06: 30-yr fixed rate at year's low 6.10%
Jan. '06: National median home price: $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median rises 22.7% to $223,600
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 3.95%
15 yr fixed mtg 3.05%
5/1 ARM 3.71%
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