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Show Page The Enterprise Review , October 6, 1976 10b FREE PICKUP Realtors Sales & Paper Banners Screen Process Graphic Design Magnetics & Decals Convention Signage Machine Showcards Lower Investment Summary Chuck Akerlow It appears nationally that the housing industry is still slow to recover. For the past several months, according to Business Week, the annual rate of new home starts has averaged 1 .48 million, which is far below the 2.5 million rate reached in early 1972. Sales of new homes have been declining this year even though they had been on the rising edge in 1975. This results in a larger inventory of unsold new homes which makes it tough for home builders to embark on new projects. Because of inflation there appears to be a shifted demand to the used-hom- e market. There are pockets of boom in the country, however. Last month at the Leisure World retirement community a lottery was held to sell 283 new homes on sale that day. More than 650 people arrived in a blinding rainstorm to buy one of these houses priced from $41,900 to $127,900. At the end of the day 131 homes were sold at gross sales of $12.5 million. The boom continues elsewhere in Southern California as well as Houston. Chicago, Minneapolis and These Washington, D.C. cities far outpace the national average which appears to be held down by cities in the northeast and southeast. In Utah, construction of new homes has picked up considerably over last year. New home sales are also good and I expect will remain so. The national elections undoubtedly will have a major impact on the construction industry particularly in new home building. The impact can probably be predicted if there is a Ford victory whereas it is not quite as predictable given a Carter win. The industry is dependent upon many external factors such as the rate of inflation, the rate of unemployment, the federal deficit and HUD-FHpolicies. I believe all of these factors will achieve some stability once there is an elected President in the White House and assuming more political parity in the Congress. A Real estate sales 24 dropped by percent under the previous week as Salt Lake realtors sold 159 properties for $6,453,034. The average home sale price for the week was $39,957, which is about $207 less than the average sale price for the month ($39,550). The Salt Lake Board of Realtors reported last week 127 homes were sold for $5,074,625. It reported 13 multiple unit dwellings were sold for $590,450, and five commercial properties were sold for $203,477. Chamber Schedules DELIVERY 2365 So. Main now offers its rural setting two additional days each week. Enjoy French cuisine Wednesday through Saturday Brunch on Sunday Meeting The Salt Lake Area Chamber of Commerce will hold its Annual Meeting and Banquet Thursday, October 28 in the new Grand Ballroom of the Hotel Utah. According to Richard and a Basque style dinner Sunday evenings Phone for reservations. 942-175- 1 Wells, president of the Chamber, all the past living presidents have been invited to the event, as well as the eight retiring members of the Board of Governors. MORTGAGE RATES FI1A 8.5 U VA 8.5 KEEP IT MOVING! If you want to keep your business moving, the Review can help. If you're running a business, you cant afford to be uninformed. The more familiar you are with your total business environment, the better able you'll be to take advantage of its opportunities. Because the Review is a specialized publication, we can provide our readers with the most complete, accurate, and diverse reports about the Utah business scene. Growth centers, sales tips, retailing information, advertising analyses, real estate, finance, investment opportunities, industry trends, legislation, management problems (and solutions) and more. Its all in the Utah Enterprise Review each week. Utah business is on the move. Move with it. SUBSCRIBE TODAY oiri jiot (you jcalj v 1 - Yes, please send me the Utah Enterprise Review. Enclosed is an $24.00 check to cover my one-yesubscription. P.O. Box 11778, Salt Lake City, Utah 84147. ar Name Company Name These rates were obtained by telephone conversation with the above institutions. The rates are correct to the best of our knowledge but their accuracy cannot be guaranteed. |