Unemployment and Utah Real Estate

One of the key predictors of the health of the Utah economy and of the Utah real estate market is the state unemployment rate.   And for several months running, Utah's unemployment rate has been among the lowest in the nation!

Utah Employment Remains Strong

Good news for Utah!  The recently released unemployment rate for Utah was a low 5.7% in June--the fourth lowest rate in the nation.   The three states with lower rates include North Dakota, South Dakota, and Nebraska.  June's level puts Utah at almost half of the national unemployment rate of 9.5%.

Utah's strong employment rate drives confidence in the Utah economy and will also strengthen consumer confidence about making large purchases, such as cars and homes.  This is one reason why the Utah real estate market has remained relatively strong compared to the national real estate market.

Utah Real Estate In Recovery

Despite all the difficulties of our national economy, Utah's econcomic engine continues to perfrom.   This strength can already be seen in recent improvements in Utah's housing market.   For example, in Salt Lake, home sales in the 2nd Quarter 2009 were up nearly 70% over the number of sales in the 1st Quarter.  During this same period, the number of Utah homes for sale has remained flat, which is a good sign for bringing buyer/seller equilibrium back to the market.

For more information on the current state of the Utah real estate market, see my recent blog article Sharp Increase in Utah Homes Sales.  Thinking about buying or selling real estate in Utah?  Jump on in--the water's fine!

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: