The housing market in this southwestern Utah city, which collapsed spectacularly with the recent economic slump, appears to be on the mend.

Sales of existing homes in one of the country’s fastest growing regions are growing. New home construction is also rebounding, but less vigorously.

“We’re still in the woods, but can see the end,” said Vardell Curtis, CEO of the Washington County Board of Realtors. “Through April of this year, we’ve had 277 closings, the highest in the past two years. We’re obviously trending in the right direction.”

The average home price at the end of April was $180,184, down from $217,677 in March.“It [average price] has been hovering around $200,000,” Curtis said.

He suspects part of the uptick is fueled by pent up demand among buyers who were apprehensive in a sour economy. While home prices have eroded, consumer confidence has grown, a key factor in an economic recovery, along with jobs.

Read the full article in the Salt Lake Tribune