84098, Park City, UT

Park City, Utah is a popular ski resort town located in the Wasatch Mountains. The 84098 zip code covers much of the town and has a population of about 10,000. Home prices in Park City have increased rapidly over the past few years, reaching an all-time high of $1 million in December 2017.

The main drivers of home prices in Park City are demand from buyers and limited supply. The limited supply is due to restrictions on building new homes in the area, which has resulted in strong demand from people who want to live here. This strong demand has led to bidding wars for properties and elevated home prices.

Home equity is important for many people because it provides them with a cushion against unexpected financial challenges. Home equity can also be used as a source of funding for other investments, such as buying a car or investing in stocks or bonds. Home prices are important indicators of overall economic health because they reflect consumer confidence and expectations about future trends.