Home Sales Up! Summer 2009

Wasatch Front home sales up for second consecutive month


Sales of existing Wasatch Front homes were up for the second consecutive month, rising 4 percent in July, while Utah County sales increased by a whopping 22 percent, according to statistics released by the Utah Association of REALTORS® Aug. 25, 2009.

In July, Salt Lake, Utah, Davis, Weber and Tooele County REALTORS® sold 2,352 single-family homes, townhomes and condominiums compared to the 2,261 properties sold in July 2008. In Utah County, REALTORS® sold 566 existing homes compared to the 465 homes sold last year.


The statistics mirrored figures released by the National Association of REALTORS® that said U.S. home sales were up 5 percent in July compared to July 2008. On a monthly basis, U.S. seasonally adjusted home sales increased 7 percent, the first time in five years that sales increased for four months in a row.


Along the Wasatch Front, sales were down 6 percent from June to July; however, the decrease was expected because sales are traditionally slower in July and the Utah statistics are not seasonally adjusted.


The median price of homes in the five-county area in July was $205,000, down 6 percent from last year. In a separate report, the Federal Housing Finance Agency said Utah home prices decreased nearly 12 percent for the second quarter.