More News On Hope of Economic Recovery!

Real Estate Agent with Equity Real Estate - Advantage

"Utah's economy is following a path that can return the state to it's prior level of prosperity." This encouraging comment was made by Kelly Matthews, Wells Fargo economist, to a sold out crowd at the Governor's third annual Utah Economic Summit. Matthews stated that while challenges still remain, he believes the recession, now in it's 17th month, is bottoming out and Utah's economy is poised for a strong recovery.

There were a number of representatives from the business, education and government sectors present at the summit. They said that although they may not share the same level of optimism, they agree the state is better positioned than most to recover. The nonpartisan American Legislative Exchange Council recently graded Utah's economy the most competitive in the nation.

   Among indicators that point to a return to prosperity is affordable housing and a trend toward activity in the housing market.  While home prices in Utah have not plummeted to the same degree as in harder hit housing markets, prices have definitely come down over the past year and a half. This, combined with the current home buyer incentives, make the Utah housing market very buyer friendly.

Contact Suzanne Gallegos, Salt Lake City's Service First Realtor

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Comments (2)

Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Suzanne, this is encouraging news.  Let us hope that we are beginning to climb out of this!

Mar 31, 2009 07:49 PM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hi Suzanne. The central U.S. and some of the mountain West have weathered the storm better than the rest of the country with affordable housing. Other than Michigan, the demand is still there, we just have to get the buyers to get off the fence. Glad the economist was hopeful.

Apr 04, 2009 11:18 AM