FEWER HOMES SOLD BUT PRICES STABLE IN NOVEMBER,

ACCORDING TO THE SALT LAKE BOARD OF REALTORS®

29 December 2010 (Sandy) – The Salt Lake Board of REALTORS® reported today that sales of existing homes and condominiums in Salt Lake County fell 35 percent in November compared to the same month a year earlier (732 vs. 1,120 sales last year). Sales of homes in the first 11 months of 2010 were down 8 percent compared to the same 11-month period in 2009.

The median price of homes (all housing types) sold in November was $200,000, down 1 percent compared to a median price of $202,350 in November 2009.

“While home prices have stabilized, sales have continued a downward trend since June, shortly after the expiration of the federal homebuyer tax credit,” said Bill Heiner, president of the Salt Lake Board of REALTORS®. “We expect some price gains going forward, but with so many foreclosures and short sales, overall prices will remain flat.”

The Salt Lake Board of REALTORS® is the Wasatch Front's voice of real estate and the No. 1 source for housing market trends. Established in 1917, the Salt Lake Board of REALTORS® is a leader in protecting private property rights. As Utah’s largest real estate trade association, the Salt Lake Board of REALTORS® assists its members to better serve the public through continuing education, advocacy and a professional code of ethics.