Utah Housing Market Remains Strong

Utah Housing Market Remains Strong

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(Salt Lake City-AP) -- Although the economy remains weak in many areas, Utah's housing market has shown strong growth.

Utah's growth rate for new housing units was two-point-seven percent. That's about in the middle of other Western states. Nevada grew the fastest, at four-and-a-half percent, while Wyoming was slowest, at one percent.

The survey measured new housing units between April of 2000 and July of 2001.

Experts say two main things are keeping the housing market strong in Utah: new people moving in to the state, and very low interest rates that make buying a home cheaper.

(Copyright 2002 by The Associated Press. All Rights Reserved.)

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