THE CURRENT UTAH REAL ESTATE MARKET
Posted by utahhomes on March 14, 2008
Here’s a video news report that ran on KUTV Channel 2 News on January 23, 2008.
CLICK HERE TO SEE THE VIDEO
Wells Fargo held it’s annual economic forecast for the Salt Lake Board of Realtors, and it looks like we’re in a very interesting market. Home prices are holding steady (for the homes that are selling), but the total inventory of homes on the market is growing every day and the total number of sold properties is down.
The recommendation to home sellers is to focus on getting their home SOLD by confronting the reality of the market and adjusting prices to reflect current conditions. Homes will still sell if they are priced correctly and competitively, and the marketwide forecast is that prices may have to adjust down 7% to 10% to get things moving again.
Please call or email me anytime with questions or comments about the current real estate market and what it means to your home’s value.
