"Home Sales are DOWN"
It is the big news today. We hear it daily on every news broadcast. I heard another quote today that home sales in Utah are down 40%! Compared to WHAT??
I am looking at the real numbers. When I look at our Wasatch Front Regional Multiple Listing Service statistics I can see the actual numbers. Yes, when we compare home sales to the first quarter of 2007 then we are down about 40%. But when I look at home sales for the first quarter of 2004, we are down only by about 10%.
Homes sales for fourth quarter in UTAH COUNTY
(winter months/end of year):
Fourth Quarter for 2004 was 1,362
Fourth Quarter for 2005 was 1,703
Fourth Quarter for 2006 was 1,746
Fourth Quarter for 2007 was 952
Homes sales for the first quarter in UTAH COUNTY
(Winter months/beginning of year):
First Quarter for 2004 was 1,017
First Quarter for 2005 was 1,204
First Quarter for 2006 was 1,481
First Quarter for 2007 was 1,518
First Quarter for 2008 was 901
It is not 'doom and gloom' as the news likes to make us feel! Back in 2004 we were not hearing news about homes sales dropping by 40%. We thought the market was just fine. Then beginning in late 2005 we had an amazingly large increase of home sales that lasted over the past two years. Now when we go back to 'normal' home sales like we had in 2004, the media wants us to believe that we are in a recession. It is just not so.
I have posted home sales for Utah County. I would also like to mention that in Salt Lake County the number of homes sold in the first quarter of 2004 was 2,837 and the first quarter of 2008 was 2,284 (which means Salt Lake County is only down by less than 3%). Also, in Weber County the home sales in the first quarter of 2004 were 691 and in the first quarter of 2008 it was 697 (that is an INCREASE!)
As I have shown here some of the home sales are down slightly from the 2004 numbers. But we have to consider all of the bad press, the problems with mortgage loans, home sales in other States, and being an election year. Once we look at ALL of the statistics we can be assured that the housing market is stable. Buyers are buying and sellers are selling!
About Heidi
- Heidi
- Utah County, Utah, United States
- Heidi currently works as a realtor in Utah! Heidi has had several careers that range from business owner to radio talk show host. But her first love and interest is homes. Now she is fulfilling a life long dream of being a realtor. She is friendly, honest, helpful and reliable. You can count on her to do what she says she will do! Heidi's area of expertise is primarily in the Utah County area where she has lived and raised her family for 15 years: Alpine, Highland, Cedar Hills, American Fork, Pleasant Grove, Lindon, Orem, Provo, Spanish Fork, and Payson. Heidi takes home ownership seriously and she won't pressure you to buy a home so that she can 'make a sale'! Heidi believes that a home isn't just four walls... it is where you live, learn, love, laugh and grow. It is a place for traditions and family gatherings. She will take time to get to know you and find a home to fill your wants and needs!