WHY are home sales down? 

  1. One factor is the continuous decline of foreclosures and short sales and in turn, this has left fewer homes available for the long-term. That is good news!
  2. Washington County home values have COME UP nearly 20% since 2011…also great news! But because they’re up, some Buyers are getting priced out of the market, which in turn slows the total # of sales down. But it’s healthy for the market as it prevents another outlandish housing bubble like 2005. And Washington County cannot face another housing bubble – it’s unacceptable! The decline in home sales year-over-year is actually a sign of a healthy, self-balancing real estate market!

 

Have specific questions about your own real estate purchase or selling situation? We'd love to answer them! Contact us at larkingroup@gostgeorge.com or 435-767-9821. Your confidentiality will ALWAYS be protected!