Salt Lake County Market Trends

I am excited to present the 2007 Year In Review Fantis Report, a simplified snapshot of the Salt Lake metropolitan
real estate market statistics. Overall, 2007 presented Salt Lake with a simmering real estate sales market in the wake of a red-hot 2006.

During 2007 there were significant market changes. These changes wreaked havoc on small segments of the market
while rewarding others. The shift was clearly driven by increased supply and decreased demand for real estate. The pace of sales
slowed 20-40% in many areas of the Salt Lake Metro market. Interesting statistics, wouldn't you say?

Despite predictions of doom and gloom among naysayers, the average home in Salt Lake County increased in value while, at the same time, sales slowed from a sprint to a more comfortable walking pace.

As we begin 2008, there remains an abundance of new construction and luxury homes. We will continue to see
challenges in these markets. Today, there is enough inventory to last the rest of the year at our current buying rate.

Watch for supply and demand to begin to normalize by late summer, especially if historically low interest rates return
this spring. 2008 will again represent near-record levels of population growth in Utah.

The Salt Lake market is more segmented than many city markets. A neighborhood can be doing well with two floundering areas right next to it. Before trusting statistics that sweep broad areas, find a local expert who can help. Remember, having a real estate license doesn't make an agent a local expert. Be sure to ask specifics about various neighborhoods, and ask for written documentation to back it up.