Salt Lake home prices have increased nearly 47 percent over the past five years, and more than 371 percent since 1991, according to a recent report by the Federal Housing Finance Agency. Nationwide, home prices have increased 32.81 percent over the same five-year period. Over the past year, home prices across Utah increased 9.80 percent, the third highest house-price appreciation of all states, the report said The FHFA House Price Index (HPI) is a broad measure of the movement of single-family house prices. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. (Courtesy of Salt Lake Board of Realtors)
What will happen the second half of this year?
Part 3 What will happen the second half of this year? Yes, we are seeing a slowdown. However, we are really just heading back toward the market pace we saw pre-pandemic, and those were still great years for real estate. Focus on the big picture, and that’s this: the...
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If the economy slows further, what does that mean for real estate?
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The market has shifted, and that’s a good thing.
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Pricing your house based on current market conditions means it’s more likely to sell quickly. Let’s connect so you can have the best advice when you sell today.
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?
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