Utah Realtor - Barry Preusz

01/21/2022

Home prices continue to go up and the number of days to sell a home continues to go down!

07/17/2021

Recent home buyer demand has continuously outstripped supply, leading to price gains over the past 11 months. Prior to the covid-19 pandemic, the U.S. housing market offered more than 6 month’s supply. Once the pandemic began to affect the U.S., the supply began to drop sharply, bottoming out at a level of 3.5 month’s supply. In early 2021, supply levels have gradually increased to a level just above 4 month’s supply, which is still well below pre-COVID supply levels and indicates that demand remains high.

07/17/2021

Housing prices in all 20 U.S. major metropolitans rose. Five cities - Charlotte, NC, Cleveland, Dallas, Denver and Seattle saw their largest gains ever. Source “S&P Case-Shiller 20-City Composite Home Price Index, June 2020.”

06/13/2021

Yes, only 5 days on average to sell a home. This is a heavy seller's market.

03/02/2021

03/02/2021

Nearly 1,500 Utah buyers priced out for every $1,000 increase in price!

Even small increases in the cost of a home can prevent hundreds of people from achieving homeownership. That's according to a new study from the National Association of Home Builders (NAHB).

In Utah, for example, a $1,000 increase in the statewide median new home price of $419,078 would push 1,496 households out of the market. Based on their incomes, these households would qualify for a mortgage before the price increase but not after.

Nationally, a $1,000 increase pushes 153,967 households out of the market, according to the study.

“Builders report several factors contributing to a lack of affordable housing, including shortages or delays in obtaining building materials; rising material costs, particularly record-high lumber prices; excessive regulations; a shortage of construction workers; and a lack of buildable lots,” said NAHB in a press release about the study.

12/22/2020

November home market stats continue to show single-digit days on the market until sold. Home prices continue up with over $50,000 above last year median.

11/18/2020

Number of days it takes to sell a home in now in single digits! Median sold price is up to $370,000.

10/27/2020

Utah ranks as the No. 18 state most affected by cybercrime, according to a study by Safety.com. In Utah, total losses in 2019 amounted to $46.5 million, with losses per victim amounting to $14,061, the third highest per victim amount of all states. Cybercrime involves many different aspects, from phishing schemes and identity theft to credit card fraud and data breaches. It is a massive global industry, reaching $3.5 billion in damages from reported incidents in 2019. The repercussions of a cyberattack can be devastating. Beyond ruined transactions, long-term reputation damage, and lawsuits filed by angry clients or members, victimized businesses may also face government action, resulting in fines and other sanctions.

10/22/2020

The latest stats from the WFRMLS. Median sold price continues to climb, now at $369,000 with only 11 day on the market.

09/28/2020

Utah has the second-best unemployment rate in the country. The rate is just 0.1% behind Nebraska's 4.0%.

09/25/2020

Properties sold more quickly in the past four weeks (ending September 13), with the median days on market at 22 days, a slight increase compared to the prior four weeks when it was at 16 days, in part due to the seasonal slowdown. This is far below the 38 median days on the market about one year ago.