Sales have hit an 8 year slump. Now the big question has been, how does the rest of the year look. People are asking...should I wait to buy.
Lets take a look.
THE GREEN LINE is amount of new listings on market.
THE BLUE LINE is our average price.
THE RED LINE is the number of homes sold per quarter. (Graph made by Wasatch Front Regional MLS)
ABOUT THE GRAPH:
As you can see Salt Lake has hit an all time low for sales. The reason why this has happened is largely due to the loan credit crisis. Loans have changed and many of our clients that bought a home a year or two ago are stuck. They cant buy another home with current loan guidelines. A second reason but not as important is out of state sellers having a difficult selling their home…