Real estate sales continue even with COVID-19

Northern Wasatch Association of Realtors Uncategorized

In the month since Gov. Gary Herbert asked Utahns to start making efforts to social distance, real estate sales have continued in Northern Utah. Even with the new measures, home buyers and sellers have found success as Realtors have helped them use virtual tools and have implemented new safety procedures.  From March 16 through April 15, Northern Wasatch Realtors sold more than 730 homes despite the challenges from COVID-19.   In Weber County, Realtors actually sold more homes than they did during the same time in 2019. There were 388 sales, which is a 2% increase from the 379 transactions last year. The median sales price in Weber County rose 12% to $280,000.  Davis County felt a stronger impact from the …

2020 real estate forecast

Northern Wasatch Association of Realtors Advice

President’s MessageRobert Bolar As 2019 draws to a close, it’s time to start looking ahead to 2020. In the real estate market, conditions next year will be much like they were this year. Key characteristics will include low mortgage rates, rising home sales and increasing home prices. These predictions come from Lawrence Yun, chief economist of the National Association of Realtors, who recently presented his 2019-2020 housing forecast at the annual Realtors conference in San Francisco.  For 2019 as a whole, he expects a 9% increase in new home sales nationwide, a 1% increase in existing sales, median price growth of 4.3% and an average of 4% for a 30-year fixed-rate mortgage.  For 2020, his forecast looks similar except Yun …