Salt Lake City Real Estate Blog

Yesterday new home start figures were released which showed an increase of 0.8% from Feb to March. That’s the good news. Also on the same day builder confidence showed a downtown because of the increasing number of cancellations and a decease in sales due to the sub prime mess-up. Here is my take on the situation. I believe we were starting an upturn in the market (at least on the west coast) but now with the sub prime problem who knows what will happen.

The latest home price information for Salt Lake County, Utah County and Davis County are now available. Many areas are still seeing double digit growth, especially those areas that were less expensive. The more expensive areas days on market do seem to be increases but all in all it is still a great market. More detailed information can be seen here: http://www.greatsaltlakecityrealestate.com/Homeprices/home-prices.html

NAR just released pending existing home sales data for Feb, http://www.realtor.org/rmodaily.nsf/pages/News2007040301 Home sales were up 0.7% which while not the greatest increase ever seen is a step in the right direction. NAR claims it would have been better but poor weather dampened sales. The question is when will the sub-prime fiasco impact these figures and how bad will it be.