Wasatch Front Quarterly Market Reports 2019 Q2 Wasatch Front Market Report | Page 2

Q2 2019
WASATCH FRONT
REAL ESTATE OVERVIEW
ABOUT THIS REPORT
This comprehensive second quarter market report provides an overview of the Wasatch Front real
estate markets. We believe our clients should have access to information that facilitates thoughtful
real estate decisions. The Wasatch Front markets remain strong with highly segmented areas. The
various cities, their neighborhoods, and the outlying areas differ significantly in terms of price, home
type, features, and amenities. These statistics cover entire counties and are general in nature.
As we progress through 2019, economists and business professionals are debating the timing of the
next recession. While a recession is inevitable, we believe real estate will not lead the way as it did
in the Great Recession of 2008. The cause of that recession was a bubble in the housing market
created by lack of discipline and oversight in the mortgage industry. Historically, housing does quite
well in lower interest rate environments.
Current positive indicators for real estate include:
1. Tighter mortgage underwriting standards
2. Near historical low interest rates
3. Expectation of further interest rate reductions
4. Relative global “safety” in US investments
5. The strength of Utah’s economy and population growth
6. Generally constrained inventory
Data interpretation, judgment, and historical context are key elements in making informed decisions:
Contact your Berkshire Hathaway HomeServices Utah Properties agent for guidance on navigating
the market.
Stephen C. Roney
Chief Executive Officer & Owner
Berkshire Hathaway HomeServices Utah Properties
*Data as of 7/1/2019
For all data, we have used a median sales price and an average sales price. The median is the middle point of all prices—half the sales are less than the median
and half the sales are more. The average is all the property prices added together and then divided by the number of properties. The difference between the
median and the average is that the median is not as affected by outlying very large or very small sale numbers, whereas the average can be skewed significantly
by one very high or very low sales price. We believe it’s important to use both median and average in order to give a holistic view of the market.
Q2
19
All statistics are based upon Wasatch Front Regional MLS data for the period of 7/1/18 to 6/30/19.
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