Utah's Economy is on the Rise

Sales of existing homes and new homes are increasing rapidly in Utah and it is becoming increasingly difficult to find a well priced home below $250,000 without an existing offer. The improving market is boosting buyer confidence which in turn fuels more home buying. Investors are seeing the changing market and the pent-up demand, and are moving to take advantage of the opportunity, seeing rents on the rise and the potential for significant price increases over the long term.  However, it is becoming increasingly more competitive to find properties. A recent report suggests that loosening mortgage standards, including increasing mortgage-to-value ratios and mortgage-to-income ratios along with improving credit availability, is helping to fuel the increased purchasing.