Salt Lake Real Estate Market Conditions
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REAL ESTATE IN UTAH REGAINED: HOME SALES INCREASED IN THE LAST QUARTER OF 2009

Posted By: yownz on February 26, 2010 in Uncategorized - Comments: 1 Comment »

Utah’s Real Estate Community did a pretty job last 2009. It regained a good sale after the 3-year decline in home sales. It really shows that real estate in Utah was trying to improve their home sale performance for the last time in 2009.

In the last quarter of 2009, home sales was doing good that made the market flooded by active homes that were released and sold out in town.

According to the Salt Lake Board of Realtors, home sales increased up 19% in December compared to December 2008. There were about more than 9,000 homes that were released and sold out in the market in 2009. A record of annual home sales and an increased of 4% in overall sale was noted in Salt Lake County.

“Existing home sales are surging because of more affordable home prices and the federal government’s home buyer tax credit. In addition, there are fewer newer homes being built. Because of that buyers are turning to existing inventory,” a statement explained by the President of the Salt Lake Board of Realtors, Bill Heiner.

In single family homes, there were about 2,400 homes were sold in the market in the last quarter of 2009. It was noted that there was an increase of 36 percent compared to last quarter of 2008.

As the expanded tax credit is on going, it would help many home buyers to purchase new homes in the real estate market and the supply of constructions of new homes is expected to rise in order to outnumber the demands of home buying.

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  • Condo Sales in Salt Lake City improved in April 2012!
    The number of sold condos in Salt Lake City Utah Real Estate revealed some good curves last month. Fifty one condos have been sold out in the market. This showed off improvements on both monthly and yearly change of sales. Year over year change of sale went up 37.25 percent from 32 sold condos of […]
  • Single Family Home Sales drifted up in Salt Lake City during April 2012!
    Salt Lake City Utah Real Estate revealed good home sale numbers in the market last month. With a total of of 287 single family homes sold in the market, both yearly and monthly change of sale increased this time. Its year over year change of sale increased 17.07 percent from 238 properties sold in April […]

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