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The Average Homebuyer’s Income Has Increased Considerably in “Pandemic Boomtowns”

Pro Builder

The Average Homebuyer’s Income Has Increased Considerably in “Pandemic Boomtowns”. Remote workers moving to Boise, for example, have raised the average annual income of homebuyers by 24%, to $98,000. According to Redfin, Boise has seen the largest increase of homebuyer income among the 100 most populous U.S. metropolitan areas.

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Utah Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

For a list of Utah economic development agencies that can help with the site selection process, visit our Online Site Seekers’ Guide. Private Activity Bond: Utah’s tax-exempt bonding authority creating a lower cost, long-term source of capital. Significant purchases from Utah vendors or suppliers.

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Smaller Markets Offer Relief and Opportunity for First-Time Home Buyers In 2022

Pro Builder

States like Utah and Nebraska in the Midwest boast the most prosperous markets for new buyers in rural areas like Magna and Chalco, where flourishing communities and opportunities for job growth intersect with housing affordability. Magna, Utah has the highest expected sales growth rate of 15.2% Housing Markets. Affordability.

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Best States for Home Ownership

Pro Builder

SmartAsset compared all 50 states to rank the best place for homeownership based on such factors as value appreciation, home value to household income ratio, the average cost of annual insurance, property taxes, burglary rate, and five other metrics. Number two is Utah. Idaho ranked first. Nowhere in the U.S.

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Is Your Local Housing Market Headed Toward a Home Price Correction?

Pro Builder

States like Washington, Idaho, California, and Utah, among others, saw a relatively large run-up in prices over the last two years, but as more buyers are forced to put off their home purchasing plans, affordability is making a slow but steady comeback. . The second groups are frothy housing markets like Austin, Boise, and Phoenix.

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Buyers Turn to Cash and Higher Down Payments to Snag Homes

Pro Builder

NAR notes this widens the wealth and income divide among those who are financially wealthy and those yet to build up wealth. In the state of Utah, REALTORS® reported an average of seven offers per home sold. Some buyers are not even attempting to place a bid on a property with multiple other offers.

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Davis Bacon versus Prevailing Wage Rates & Construction

Job Order Contracting

Potential savings from wage cuts are outweighed by the loss of income to communities. The annual cost of repealing a prevailing wage law resulted in an estimated at $123 million in lost income and a net tax revenue loss of $6.8 million and a state of low of income of $318 million to $384 million.

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