The House Price Index, released yesterday by http://www.fhfa.gov, shows Utah real estate performing dismally compared to a year ago.
There's some question as to the accuracy of this report. The agency gathers loan amounts, not sale prices, on homes to determine data. We all know that some people buy homes with no money down, and some people pay cash.
So the question is, "How do we get the real numbers?"
Based on actual sold prices from the Wasatch Front Regional Multiple Listing Service, prices are on the rise again. Salt Lake, Utah, and Davis Counties all saw an average home prices increase from the end of last year to the beginning of 2009.
I was featured in the Salt Lake Tribune by Lesley Mitchell this morning. Take a look at the article, and let me know what you think!
http://www.sltrib.com/business/ci_12459668
Best,
Tony =)
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2 comments:
It's true that some areas are doing better than others. It's a good idea, though to make sure you analyze the data with all of the facts and information. It's best not to look at percentages when comparing data, say from the Utah Realtors Association because in smaller counties, a few low sales can significantly influence percentages. Thanks for the information!
Its not only the story of Utah Real Estate but the condition of all Real Estate across the world is almost same.
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