National Report Says SLC is Among Top 10 Places to Buy

Realtor.com recently ranked Salt Lake City No. 6 in the nation for “The Best Cities to Buy a Home Right Now.” Forbes reported on the study and stated there were a number of factors that played a part in determining how each city was evaluated and ranked.

Salt Lake received high marks for improved inventory levels, list prices and employment. Inventory is down 31 percent compared to last year, and the median list price is up 5.5 percent from last year at $195,000. The unemployment rate for Salt Lake is currently 5.9 percent. Unemployment rates, from the Bureau of Labor Statistics, were factored into the rankings since jobs are a leading indicator of housing demand.

Park City, Utah, just 35 minutes up Parleys canyon is a nearby alternative to living in Salt Lake City. For those who are looking for cleaner air, and an outdoor enthusiast lifestyle, Park City & Deer Valley offer a resort living situation, nearby a metropolitan city with an international airport.

In addition to their rating factors, Realtor.com utilized the peak-to-trough home price index, which tracks how much home prices have fallen in the past five years and serves as an indicator of whether they have bottomed. Numbers in Salt lake City and Park City have followed a similar pattern, but there are some subtle differences for sure. While a realtor in Salt Lake City can access some of the data points for the Park City market, it is very important to use a LOCAL Park City Realtor if interested in real estate in Park City. Salt Lake City operates its Wasatch Front MLS (WFR) that does include some data from the Park City area. Park City has its own MLS (PCMLS). This is the foremost tool for gathering and deciphering the market data for the Park City real estate market, and only an experienced, local Park City realtors can share with you what really is going on in the markets many niche markets and neighborhoods.

Along with the good news for Salt Lake, Provo and Ogden received positive recognition of their own. Forbes recently ranked the cities No. 3 and No. 8 respectively in a national study, “The Best Cities to Raise a Family.”

Compared with 100 of the largest metros in the United States, Provo has the lowest crime rate and is among the top 10 for lowest cost of living. Provo also has one of the highest education rankings.

Ogden made the top 10 for its high housing affordability, reasonable cost of living and low crime rate, which is also among the lowest in the nation. The spread between high median income and low cost of living is the nation’s widest.

Park City is too small of a city for this list, but you can be sure, there is no better place in Utah to raise a family. With so many options of activities for the entire family to take part in, why live anywhere else?