Top 10 Highest Median Single-Family Home Prices along the Greater Wasatch Front
Salt Lake County home prices climbed to an all-time high in the third quarter, according to the Salt Lake Board of Realtors®. The median single-family home price in the July-through-September period reached $381,500. That’s up 7.5 percent compared to a median price of $355,000 in last year’s third quarter. Just three years ago, the median single-family home price reached $300,000, which was then an all-time high price. The previous peak home price was in the third quarter of 2007, when home prices topped $256,000 (or $298,085 in inflation-adjusted dollars). Home prices increased across all Wasatch Front counties including: Davis, up 6.2 percent; Tooele, up 2.6 percent; Utah, up 4.4 percent; and Weber, up 10.3 percent. Sales of single-family homes in Salt Lake County were flat (up 0.7 percent) in the third quarter year-over-year. Davis County saw sales increase 9.8 percent. Sales in Tooele County were up 4.7 percent. Utah County sales were up 11.8 percent. Sales in Weber County were up 12.1 percent. In the third quarter, the typical Salt Lake home was on the market 37 days before it sold – six days longer than the average time for a home to sell during the third quarter of 2018
Does Spouse’s Debt Impact Joint Mortgages?
Your spouse’s debt can impact your joint mortgage application, potentially limiting loan options and eligibility. Mortgage lenders prioritize a front-end ratio of 28% and back-end ratio of 36% or less.
Nebraska, Utah, Texas and 12 more states sue feds on housing efficiency standards
Nebraska, Utah, Texas, and several other states are suing the federal government over energy efficiency standards they claim increase the cost of affordable housing. The lawsuit targets the Energy Efficiency Standards section of the Cranston-Gonzalez Act, arguing it...
Understanding The Crucial Role of Credit Scores in Home Buying
In the journey towards home ownership, one's credit score emerges as a pivotal factor, influencing opportunities and shaping choices. This article delves into the intricate role that credit scores play in the home buying process, providing a comprehensive overview of...
Where to Get a Non-QM Loan
Check if you meet the typical requirements: 620+ credit score, stable income, and consistent employment history. Look for lenders or mortgage brokers who work with non-QM wholesale lenders; they can connect you with options.
Top Markets for Office Development in the West
In 2024, the office sector saw significant changes with high vacancy rates and minimal increases in office utilization. Nationally, office space under construction decreased to 57.8 million square feet, down by 39 million from 2023. In the Western U.S., the office...
Utah Market Stats January 2025
Key Factors Influencing Utah Insurance Rates
The average annual homeowners insurance premium for a $200K home in Utah is $1,063. Utah’s insurance rates are influenced by low weather risks, local crime, and construction material costs.
Salt Lake City – A Top Pick for Millennial Homeowners
Salt Lake City: A Top Pick for Millennial Homeowners Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM) PSA (Pricing Strategy Advisor) General Contractor...
2026 Interest Rate Forecast: Continued Adjustments
Federal funds rate projected to fall from 3.7% (Q1) to 3.1% (Q4), marking consistent quarterly reductions. Rate adjustments aim to stabilize the economy, setting the stage for long-term equilibrium.
2025 Housing Market Forecast for Buyers & Sellers
2025 housing market: moderate rise in home sales, stabilized mortgage rates, and slower price increases. All-cash buyers make up 26% of sales, driven by increased homeowner equity.