3rd Quarter Utah Market Report
- …Home prices continue to appreciate at significant rates. I (Gardner) still expect to see some moderation in price growth as we move through the year and into 2020, but Utah will clearly continue to outperform the nation as a whole.
- The number of homes for sale in the third quarter was only 2.6% higher than in the same period a year ago but was 11% higher than the second quarter of this year. There continues to be significantly more choice in the market, which is good news for home buyers.
- The average number of days it took to sell a home … rose eight days compared to the third quarter of 2018. The Utah economy is still outperforming almost all other states and this will continue to drive housing demand.
Wondering what this may mean if you’re looking to buy or sell? The market looks different throughout the year so you’ll need a season-specific game plan. Please don’t hesitate to contact us with any questions you may have.