"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
Serving Salt Lake City, Utah and surrounding areas