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Salt Lake City 2006 Real Estate Numbers Are Up

January 22nd, 2007 by Kenric

Nigel made a post about Salt Lake City appreciation numbers on his blog last week.  SLC continued to see strong appreciation throughout 2006.  This is good news for me since I have two townhomes there and this certainly helps heal the pain of my loss on the St. George lots.

This shows that real estate is cannot only be time cyclical but also location cyclical.  In a year where California, Arizona and many other states have seen negative appreciation, SLC prices climbed.  In fact, during the past few years of the real estate boom, Salt Lake City saw no appreciation during that time.  I remember that when I decided to buy my townhomes in SLC, the newest data there showed an appreciation rate of -1%.  It was a tough explanation to friends and family as to why I was buying there.  This is one reason I don’t understand how nationwide newspapers, magazines or shows can do blanket reports on the real estate economy.  There is no way that a general report can capture the state of the country’s real estate market, let alone even one state’s.

It’s always nice to revisit and review each investment to see what you could have done differently.  Click here to see the posts relating to these townhomes in the past year.

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