I thought this is a list of very good FACTS straight from the head of the Utah County Association of Realtors! As we look at real numbers it is comforting to see that the housing market is very stable right now. We are seeing an increase!!
The following letter is from: Taylor Oldroyd,
CEO Utah County Association of Realtors®
Subject: Monthly Statistics--April 2008
1.There is a lot of talk about where the bottom of this housing correction is…I am going out on a limb to say that the bottom was in Dec 2007. December saw the fewest number of homes with only 269. Since then, we have increased at a nice and consistent pace. January increased seven to 276. Februray we saw another step of 15 to 291. March broke the 300 mark and hit 327. In April we reached 395. This represents a 47% increase since Dec 2007. I'd say that is a nice climb out of the bottom.
2. Of course comparing April 2008 with last year we still see a 32.5% reduction in sales. Again though,this is a nice step in the right direction. March 2008 compared to March 2007 was off nearly 10 points higher at 43.4%. The signs of a pick up in the market are clear.
3. How did Condos make out? Last month was off 51% compared to last year and this month again a bit of an improvement. April 2008 sales of Condos is down 37% compared to last April.
4. The upper-end of the market continues to struggle however. For only the second time in recent history, no homes priced above $1 million were sold. And home sales above $500k were down 71% from April 2007.
Summary: Price it right and it will sell. If you're in the higher end, hang in a bit longer and as Utah leads the country in economic indicators, these upper-end homes will see a slow rebound too.
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!