Last month 848 single family homes were sold in Salt Lake County, that's an increase of 5.47% over the previous months total. The number of homes sold has now increased in each of the last four months, going from 507 in Jan to 848 in May. My question is it too early to say that the market has bottomed out, and we are starting to recover?
My personal point of view is that it all depends upon the economy. The Utah economy is one of the strongest in the U.S. and while this remains the case then we have probably seen the worst. Now don't get me wrong, home prices are still under pressure, especially above the $300,000 mark, but at least more homes are now being sold.
Author Trela Bird is a Realtor providing services for the Salt Lake Real Estate market. For more information on what's happening in my market, read my Salt Lake City Real Estate Blog
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