GDP is UP, Home Values on the Rise, and Home Sales Increase in Salt Lake

The US Department of Commerce released an advanced estimate of the GDP for the third quarter of 2009 on Friday.  This report estimates the Gross Domestic Product (the output of of goods and services produced in the US) to be up 3.5 percent, the first increase in over a year.  This estimate will be updated on November 24th and may change when more data is analyzed, but this is definitely a good sign for the US economy.

In addition, according to the latest S&P/Case-Schiller Home Price Report, 17 out of 20 major metropolitan areas have seen increases in house prices from July to August.  This has led a number of economists to say the economic downturn we have been struggling through is over and the housing crash has hit bottom and will start to improve.

There are no Utah cities in the S&P report, however, the Wasatch Front has seen an increase in home sales of 4% in this year’s 3rd quarter when compared to the same quarter last year.

This entry was posted on Monday, November 2nd, 2009 at 10:50 am and is filed under Economy, Investing, Market Conditions, Selling. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.