Murray, Ut Homebuyer Challenges blog !!
A home buyer from Murray Ut. called yesterday to take issue with parts of my Nov. Home Sales blog. She said I didn't go far enough in my explanation about why condominiums under $200 thousand were such good product.
I had said that " I was surprised that the ratio of condominiums to houses sold (23%) was as large as it was". I still am. I went on to mention that most of the condos were under $200,000 and that that explained the activity.
My Murray home buyer suggested I pay attention to my own blogs, because last month I wrote that single women represented 25% of all home buyers.(excluding Real Estate Investors) and that I was pretty dull not to understand that single women meant a one income house-hold and that one income could only finance so much house. Two hundred thousand was probably the number that a single paycheck could afford. Point well taken.
I want to thank my new found friend for pointing this out to me, I'd also like to ask her to send me a copy of the blog she referenced (I can't find it). And I'd like a chance to re-phrase what I suggested.
Here goes.
Last month, Condominium sales in the Salt Lake Valley accounted for 23% of all housing units sold. The majority of those condos were sold at a price under $200 thousand dollars. It is suspected that since single women now make up 25% of all home-buyers and that by definition have only one paycheck, $200 thousand is the best price to be in to service this dynamic market. What do you think ???
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