Housing Values in Utah Skyrocket

Housing Values in Utah Skyrocket

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OGDEN, Utah (AP) -- Much of the nation is dealing with flat or falling home prices -- but demand in Utah is driving values through the roof.

In Utah, a federal agency reports, typical housing prices leaped by more than 15 percent in just three months, from April through June, in just the latest increase.

The U.S. Office of Federal Housing Enterprise Oversight came out with the numbers yesterday.

The state's three largest metro regions Provo-Orem, Salt Lake City and Ogden-Clearfield ranked second, third and fourth in the agency's national sample of real estate values.

The Utah figures are in sharp contrast to much of the country, where housing values are flat or falling. Utah could be catching up -- its housing values were a relative bargain until a few years ago.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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