The Salt Lake Tribune reported today that home prices may be on the rise. I have pasted their report below for your review. Does this mean that Utah homes are beginning to make a U-Turn, and if so, perhaps a good first step towards an economic rebound going into 2010.
Washington » Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the housing market recovery is continuing.
The Standard & Poor’s/Case-Shiller home price index of 20 major cities released Tuesday rose 0.3 percent to a seasonally adjusted reading of 144.96 in September. Prices rose month-over-month in 11 metro areas, a weaker showing than in recent months.
“We have seen broad improvement in home prices for most of the past six months,” David Blitzer, chairman of the Standard & Poor’s index committee. “However, the gains in the most recent month are more modest than during the seasonally strong summer months.”
Industry experts, however, still worry that rising unemployment and foreclosures could stifle the rebound in prices.
So, if you are in the market for a home in Utah, or have been putting it off, waiting for the economy to turn around, you may not want to wait too long, or you’ll be paying more for it. Search for Utah Homes by clicking here, then contact us for showings and we’ll get the ball rolling.
