According to this report from the Salt Lake Board of Realtors, existing single-family homes across the Wasatch Front climbed 4 percent in this year's third quarter compared to the same period a year ago. The increase was the first time in four years that home sales showed a year-over-year increase during a third quarter.
Nationally, the good news is that home prices have stabilized and even started to rise. According to the latest S&P/Case-Shiller Home Price Report, 17 of 20 major metropolitan areas showed house-price increases from July to August. Of the 20 cities tracked, only Charlotte, Cleveland and Las Vegas showed small decreases (Salt Lake City was not included in the report).
These developments, in part, led Moody’s/Economy.com economist Mark Zandi in a recent report to national home builders to declare that "the housing crash is history."
For home buyers, that means the bottom of the market has likely come and gone. And more personally, it means the worst is behind us.
All in the Day of a Realtor- Real Estate Happenings in Salt Lake City and Beyond...
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