2009 Salt Lake numbers at a glance!

Yesterday I went to the Salt Lake Board of Realtors forecast luncheon and here are a few statistics I found. 1) In 2009 only 900 new single family homes were built in Salt Lake county-the lowest level since the 1940’s; while about 9100 existing single family homes were sold. 2) Historical experience suggest housing prices in Salt Lake Country will remain under downward pressure in 2010. 3) Foreclosures are the greatest threat to price increases as foreclosures continue to increase in Utah.

Bank Foreclosures still coming.

Still seeing our share of bank foreclosures. The good news is that banks are easier to deal with then short sales. Short sales are still taking a very long time to get completed and many times the buyers have moved on.


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    Scott's Average
    Days on Market: 58- 34% Faster!
    Sales Price: $283,500- 12% More!

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    Days on Market: 88
    Average Sales Price: $251,0000

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