Thursday, May 29, 2008

St George Real Estate Yearly Appreciation Rate

Statistics for the St George and Utah area involving percentage apreciation rates were just compiled by the Office of Federal Housing Enterprise Oversight. For last year, 4th quarter 2006 to fourth quarter 2007, the appreciation rate for St George Real Estate was -3.65%, where as Salt Lake City Utah was +5.39%, Logan Utah was +6%, Provo and Orem Utah was +6.76% and Ogden-Clearfiled Utah was +6.64%.

St George Utah real estate appreciation rates over the last 5 years equates to +73.07% versus about 50% for northern Utah.

St George has a fair share of Short Sales and REO Bank Foreclosures, which is helping to keep prices even or down.

Also, a divergant amount of homes above the bulk loan interest rates, which are above loan amounts right around $416,000, are slow movers versus the rest of the market feeling a slight pick up in sales. (This observation is somewhat subjective and comes from shopping with buyers in those price ranges and asking experience of RE/MAX First Realty agents).

We hope you appreciate these updates on the market and will use Brian Habel with RE/MAX First Realty when it comes time to buy or sell your next home here in the St George real estate area.

For a good article featuring some of these same statistics as well as some other helpful up to date information, goto Utah Homes Still Appreciating.