Housing affordability was up in all major metropolitan areas in Utah during fourth quarter 2008, being the result of both lower home prices and cheaper mortgage financing. According to The National Association of Home Builders/Wells Fargo Housing Opportunity Index, which measures the percentage of new and existing homes sold in a given area that are considered affordable to those earning the median income.

The index reported the biggest quarterly affordability gain in St. George, where the percentage of affordable homes increased from 33.8 percent to 41.7 percent.

This report shared by the Utah Association of Realtors shows even more opportunity in the St. George real estate area market.