Better off than 2008? Not for Salt Lake housing
SALT LAKE CITY (AP) — A report comparing the current housing market to the situation four years ago says the picture is noticeably bleaker in Utah's Salt Lake County.
An analysis by foreclosure tracking firm RealtyTrac notes that Salt Lake County's home prices are down 36 percent and unemployment has doubled since 2008.
The inventory of foreclosed properties is up 49 percent, and the number of properties entering the foreclosure process is up 59 percent.
Foreclosure sales have more than doubled as a proportion of overall sales, compared with four years ago.
The nationwide report found 35 percent of the more than 900 counties measured were "better off" in at least three of five categories measured.
The study's "snapshot view" of the two years doesn't fully reflect the lowest lows of the market or recent recovery.