Job growth could benefit the Salt Lake City housing market
National 30-year fixed-rate mortgages are at 4.28 percent, and homebuyers with the proper credit may want to apply for financial assistance and invest in one of the houses for sale in Salt Lake City. With mortgage rates still very low, and property in Salt Lake City steady at $238,462 for an average home, it is a buyers' market in the City of the Saints, reports ALTOResearch.
While most of the available data regarding both commercial and residential markets in Salt Lake doesn't show any big changes, many of the property listings are affordable and may garner attention from first-time homebuyers.
Potential housing market booms are probable, as Utah boasts a 3 percent job growth rate, which is among the top four highest seen nationwide, according to Eric Belsky of the Joint Center for Housing Studies at Harvard University.
Homebuyers may want to consider moving to Salt Lake City, Utah, to invest in homes with the potential to appreciate in value over the coming years. With job growth also on the rise, the city may be a great place to start a new career and purchase an affordable home.