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
Unemployment: Hope on the Horizon
Unemployment: Hope on the HorizonTomorrow, the unemployment rate for April 2020 will be released by the U.S. Bureau of Labor Statistics. It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic...
Caremongering Spreads Goodness, Not Fear
Caremongering Spreads Goodness, Not Fear As news of Covid-19 started gearing up, Allison Bradley felt heartbroken when she spotted seniors running errands and grocery shopping around her town, Kelowna, B.C. “My goodness, you are risking so much by being out here. It’s...
Why Home Equity Is a Bright Spark in the Housing Market
Why Home Equity Is a Bright Spark in the Housing MarketGiven how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have...
More Temporary Bumps in the Road to Recovery
We know there are bumps in the road when it comes to today’s economy and the housing market, and that’s to be expected under the current conditions. The good news is, experts are forecasting that home prices will continue to rise. DM me to discuss your plans in this...
Confused About the Economic Recovery? Here’s Why.
Confused About the Economic Recovery? Here’s Why.As we continue to work through the health crisis that plagues this country, more and more conversations are turning to economic recovery. While we look for signs that we’ve reached a plateau in cases of COVID-19, the...
U.S. Homeownership Rate Rises to Highest Point in 8 Years
U.S. Homeownership Rate Rises to Highest Point in 8 YearsFor nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many...
The 3 Sciences That Are Driving Today’s Expert Economic Projections
Why the Housing Market Is a Powerful Economic Driver?
Why the Housing Market Is a Powerful Economic Driver?With businesses starting to slowly open back up again in some parts of the country, it’s important to understand how housing can have a major impact on the recovery of the U.S. economy. As we’ve mentioned...
Buying a Home Right Now: Easy? No. Smart? Yes.
Buying a Home Right Now: Easy? No. Smart? Yes.Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry's leading showing management technology provider,...
Rise to the Top of the Pool by Selling Your House Today
Rise to the Top of the Pool by Selling Your House Today With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most...