Ivory Homes Identifies Four Important Factors Currently Affecting the Economy
SALT LAKE CITY, Utah – Ivory Homes, a leading provider of pre-built and custom-built homes for sale in Utah, has identified four important factors currently affecting the economy, and why prospective homebuyers should take notice.
The first factor is in relation to the strength of the job market. June's economic report showed that 80,000 jobs were created during the month. 'This is a very positive sign for the housing industry as it shows job growth, which leads to economic growth overall and more people buying homes,' said Ty Perry, sales consultant for Ivory Homes.
Secondly, the housing market overall has been very positive, with both new home sales and existing home sales stronger than they have been in years. 'For the first time in a long time, the housing industry is supporting economic growth and job growth,' said Perry.
Oil prices are the third factor of note. Oil prices are currently down about twenty percent since peaking this past winter, which is a very positive sign for the economy. Ivory Homes sees this as directly beneficial to the housing industry as well. 'As oil prices go up — or down — so goes the cost of construction materials,' said Perry. 'So the current lower oil prices should also result in lower new home prices. But it's important to remember that the price of oil can change overnight.'
Lastly, Ivory Homes notes a fourth major factor affecting the economy — and this one for the negative — is the continued slumping economy in Europe. This is resulting in a slowed manufacturing sector, which is slowing the economy overall. But there is positive news when it comes to homebuyer power. 'The European turmoil is continuing to drive interest rates to the lowest levels ever seen for a 30-year mortgage,' said Perry. 'So whether your looking to buy homes in Los Angeles, Louisville or homes in Lehi, now is the best time to do it. But it's important to remember that with other economic factors improving, this incredible opportunity may be coming to an end.'
Ivory Homes has been Utah's largest homebuilder since 1990. For more information, contact Ivory Homes' corporate office, 978 Woodoak Lane, Salt Lake City, UT 84117, call 801-747-7000, visit the website at www.ivoryhomes.com or check out the YouTube channel at www.youtube.com/ivoryhomes.
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