Please view/open this PDF - it shows home sales stats by zip code for the first quarter of 2010 and compares them to 2009.
If your zip code shows a decline in sales price, please don't be too discouraged. Why? Utah economists predict we should start seeing improvements in 2011. Here are some recent quotes:
Mark Knold, chief economist with the Utah Department of Workforce Services, said in a January 2010 newspaper interview, 'Utah's real estate bubble burst in 2007, about two years later than much of the rest of the country. That means that while housing markets in some other states were at their worst in 2008 and early 2009, the hardest times for Utah's housing sector will be 2010. It hit us later, and we're adjusting later.'*
Jim Wood, director of the University of Utah's Bureau of Economic and Business Research and author of the '2010 Salt Lake Housing Forecast' predicted home values along the Wasatch Front would continue to decline this year, falling another 3 percent to 5 percent. 'This will bring the decline in median sales price of homes in Salt Lake County to 15 percent through 2010. By then the price declines should be over, replaced by stable to slightly improving prices in 2011.' he said in the report.*
Contact me today to discover your home’s value in today’s market – you may be pleasantly surprised!
801-858-3070 or colin@colinthomashomes.com
*Here are the links to the newspaper articles where these quotes are found:
- http://www.deseretnews.com/article/print/705357849/Utah-outlook-on-housing-is-improving.html
- http://www.sltrib.com/portlet/article/html/fragments/print_article.jsp?articleId=14184951&siteId=297
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