Utah prices for homes sink while sales climb
According to data released Tuesday by the Utah Association of Realtors and the Salt Lake Board of Realtors, the Utah County housing market was brisker in the third quarter of 2009 - up 14.17 percent in number of units sold compared with the same time a year ago. But the average price dropped from $229,900 in the third quarter of 2008 to $215,000 in the third quarter of 2009. Ref. Source 6
Foreclosed home sales climb slightly in Utah; well below national figures
As a percentage of sales, foreclosure sales accounted for nearly 19 percent of all sales in Utah for the quarter, compared to 24.17 percent nationwide. The average foreclosure sales price of $212,831 for Utah was much higher than the national price of $174,198, the report showed. Buyers bought homes at a discount of more than 26 percent on average nationwide, but just 1.55 percent for foreclosed properties in Utah. Ref. Source 4
Commercial real estate market stabilizing
A new report showed both lease and vacancy rates stabilized, with vacancies falling to 15.53 percent versus 15.97 percent at midyear. The market absorbed 177,322 square feet this past quarter, a significant turnaround from the third quarter last year, which was negative 257,382 square feet. Ref. Source 6