U.S. Housing Rebound Stutters-Salt Lake, Not Much
Around the U.S. the Housing Rebound seems to stutter, but in Salt Lake City UT, not so much.
According to an AP report this morning the number of home buyers that signed purchase contracts for a new home fell sharply across the nation in November.
Because these contracts don't actually close for a month or two, the low numbers presume home sales will drop this winter.
In Salt Lake and surrounding areas though purchase contracts are pretty strong and we look for a good winter season for home sales in SLC.
Here are some of the numbers we were able to pull up from the Salt Lake Multiple Listing Service (MLS) for November and December of 2009.
Salt Lake Homes Sales Pending:
Currently, of the 7665 Homes listed For Sale in Salt Lake County, there are 1112 Homes sales contracts pending.
Six hundred eighty six of these Salt Lake Homes or Condominiums were placed under contract in the last 60 days.
In 2009, January Home/Condo sales were only 450 units we can expect that this January sales will show a real increase.
November Home /Condominium Sales In Salt Lake County:
Like the rest of the nation, home sales in SLC surged in November of 2009 with an increase of almost 80% compared to the previous years housing purchases.
Unlike predictions by analysts that predicted a real big drop in December Housing Sales, the area in and around Salt Lake City showed an 8.5% increase in the sales of Homes and Condos over 2008.
What does it all mean?
No one knows.
Interest rates could climb. Unemployment could increase. Local and State fee structures and taxes could change so that owning a home is no longer possible.
No one knows!
What we do know is this.
NOW IS THE TIME TO BUY A HOME !!!
Prices of existing homes are lower than they have been in years, interest rates are at an all time low, credit is still available to credit worthy borrowers, and many tax benefits are available from Federal, State, and local governments.
START LOOKING TODAY !!!
Call your favorite Realtor today. If you don't have a favorite Realtor, call us, or stop by Salt Lake Real Estate to pick up tips on how to get started buying a Home or Condominium in Utah.
If you are ready now to search for your new home in Utah, click on MLS Home Search and you can access thousands of Utah Homes For Sale right from your own home. It's FREE, and no registration is required.
Or just call us @ 801-567-0946. We can talk about the housing rebound, homes for sale in Salt Lake, or Utah Real Estate.