Salt Lake City ranked in top 10 cities to buy a home

Here’s some good news for the Salt Lake real estate market as reported by KSL.com

SALT LAKE CITY — Utah’s capitol city was ranked among the top 10 U.S. cities in which to buy a home in the current housing market.

The list, compiled by The National Association of Realtors was made using data from the February housing and jobs data, the U.S. home price index from Fiserv Case-Shiller and unemployment rates from the Bureau of Labor Statistics across 146 metropolitan areas and metropolitan divisions.

Utah housing market stats
Median List Price: $195,000 (up 5.5% y-o-y)
Inventory Level: 6,743 homes (down 31% y-o-y)
Median Days On Market: 90 days (down 13% y-o- y)
Price Drop From Peak:19.4%
Unemployment Rate: 5.9%

Tuscon, AZ held the number one spot on the list, with a median list price of $170,000 and an unemployment rate of 7.8 percent. Salt Lake City, which came in sixth, had a median listing price of $195,000, but its unemployment rate was a mere 5.9 percent, while the national unemployment rate sits at 8.2 percent.

Salt Lake City was flanked by Fort Worth TX, coming in at number five, and San Jose, CA, which ranked seventh.

St. Louis, MO, which was ranked number ten on the list, had 12,819 homes on its inventory level, while Salt lake had nearly half that at 6,743 homes. Homes are also selling quicker in Salt Lake, with its median for days on the housing market at 90, while St. Louis’ median was 103 days.

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