With Labor Day just behind us, the increased sales are a great harbinger, not just for home buyers but for Utah workers. Home sales spur economic growth through employment of workers for construction and remodeling, as well as large purchases such as appliances and furniture.
Housing sales and services represent 17 to 18 percent of Gross Domestic Product, according to the National Association of Home Builders.
Utah Housing has a unique niche in the Utah market place, providing down payment assistance mortgages to make housing affordable for low to moderate income buyers. In the past, Utah Housing served only first time buyers. Beginning last April, down payment assistance mortgages are available to buyers who have owned homes before. A credit score of 620 or higher can qualify someone to buy. Main Street Business Journal
