Cache County home sales during the fourth quarter of 2009 were up compared with the same time period in 2008. However, 2009 real estate sales overall were substantially down compared with 2008.
There were only 979 homes that sold in Cache County, down 9% from the 1073 homes sold in 2008. Compared with 2007, when 1295 residential homes in Cache County Sold, home sales were down almost 25%. 2009 was lowest year for total home sales since 2003.
Prices of homes that sold were down 4.78%. This doesn’t necessarily mean that all Cache County Real Estate depreciated 5%, but it does tell us that people weren’t buying as many expensive homes. In all reality, starter homes just slightly depreciated, and more expensive homes depreciated even more than the 4.78%.
It will be interesting to see what happens with real estate sales in 2010. Many economists are predicting that Utah Real Estate will bottom out by the end of the summer.
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