The St George Utah Real Estate market has been hit by some of the most daunting fluxuations in the market place in the United States. While California and the likes have been pacing a steady rise in real estate values, before they fell, St George shot up like a bullet as one of the last harbor's that provided "good deals" for investors. It went from being the fastest growing micro-macropolitan area in the nation from 2000 to 2005 according to the U.S. Census Bueaura, to being among the hardest hit areas in the nation. However, it is NOW projected to have one of the biggest recovery appreciation rates during this last one year, projected at about 7%, which is being felt right now. I do believe that projection which the 24/7 Wall St. came up with using data from Fiserv from 384 metroplitan areas, is coming true.
I'm here, in the St George area and can attest from looking at the inventory levels mainly drop, that what they said in the article about smaller areas and towns where the inventory levels have been higher, that they CAN diminish a whole lot significantly more and faster than large inventory levels, say like in a Las Vegas, just 2 hours north of us, is true. While it is not an astronomical drop, it none the less is felt when taking buyers out and there is just LESS to go through than just a short year ago, according to our stats also. And we know it can happen and I think it has here in the St George area. But to say in this down market, across the whole entire United States, that, for example, your $200,000 house has appreciated a full $16,000 in one year is a pretty bold claim. I personally think while the solds on the market still have some time to prove it out as part of a comp base, that it could be becoming true in our area. I say NOW, is the time to get in, before everyone realizes it on the selling side. If ever you need help, please call Brian Habel, your St George Realtor, with St George Utah Real Estate, as I am eager and able to help!