Comments on: Average Home Sales For Salt Lake County http://3poundsofrealestate.com/2007/11/14/average-home-sales-for-salt-lake-county/ Just another WordPress weblog Wed, 18 Apr 2012 08:18:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Rob Aubrey http://3poundsofrealestate.com/2007/11/14/average-home-sales-for-salt-lake-county/comment-page-1/#comment-72 Rob Aubrey Fri, 16 Nov 2007 03:24:19 +0000 http://www.3poundsofrealestate.com/2007/11/14/average-home-sales-for-salt-lake-county/#comment-72 Hi Alex, As for employment, we are at 3% unemployment, which according to the economist that is considered full employment. We typically are behind the national trend in real estate. We have pockets of speculation that was over built and it is in the higher price ranges. The under $300k is our staple. Based on the demographics a little over 59% of the population is 34 years old and YOUNGER. So we have an endless supply of first time home buyers. There will be some corrections in the higher than $300k properties. Which will entice some of the $300k and under to sell because, they can get bargains in an upgrade. I think the ascent has already reached its peak and the number will come down, but that will be the higher price homes coming down and lowering the average. However the lower end will not come down, maybe small pockets, but I doubt it. Hi Alex,
As for employment, we are at 3% unemployment, which according to the economist that is considered full employment.

We typically are behind the national trend in real estate.

We have pockets of speculation that was over built and it is in the higher price ranges.

The under $300k is our staple.
Based on the demographics a little over 59% of the population is 34 years old and YOUNGER. So we have an endless supply of first time home buyers.

There will be some corrections in the higher than $300k properties. Which will entice some of the $300k and under to sell because, they can get bargains in an upgrade.

I think the ascent has already reached its peak and the number will come down, but that will be the higher price homes coming down and lowering the average. However the lower end will not come down, maybe small pockets, but I doubt it.

]]> By: Alex Goldie http://3poundsofrealestate.com/2007/11/14/average-home-sales-for-salt-lake-county/comment-page-1/#comment-71 Alex Goldie Thu, 15 Nov 2007 17:57:51 +0000 http://www.3poundsofrealestate.com/2007/11/14/average-home-sales-for-salt-lake-county/#comment-71 What a great visual - I'm assuming there has been a lot of non-real estate job growth in the area around Salt Lake. Is that true? I'm just wondering when this ascent will end. Your home values sound affordable, but it all depends on incomes and rates. With rates on a very gradual increase, this trend gives me deja vu to 2005. Do Salt Lake folks see this as being sustainable? What a great visual – I’m assuming there has been a lot of non-real estate job growth in the area around Salt Lake. Is that true? I’m just wondering when this ascent will end. Your home values sound affordable, but it all depends on incomes and rates. With rates on a very gradual increase, this trend gives me deja vu to 2005. Do Salt Lake folks see this as being sustainable?

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