Salt Lake County Real Estate Trends
June 10th, 2008 Categories: Real Estate News
Salt Lake County Real Estate Trends
Here are some graphs for the Salt Lake County Real Estate Market. They are the number of homes sold per month, the total volume and the average home price. This is NOT a comparison to the boom. I find it interesting all the negative press compares everything to the boom days. The boom days were not normal. It was a run up just like the tech stocks in the late 90′s. All speculative and no sound business models.
Does this mean all the worries are behind us? Absolutely not. We still have the McMansions in Draper and all the inventory in the South West section, places like Daybreak and the surrounding areas.
I am not suggesting we are in any kind of sellers market, however buyers are realizing that there are deals out there. If you look in the stable areas you can most certainly find a good deal and interest rates are still favorable. I know there is all this talk about the lending market has crumbled. Again the comparison is to when banks lent money without questions. Well to keep comparing to something that didn’t work is silly.
There are good loan programs out there with little down and low interest rates. Mind you will have to answer some basic questions like. Where do you work? How much do you make? How much debt do you have?
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