Browsing Posts From: Research

VIDEO:  Northern Utah Real Estate Market Update – August 2020 – Price Explosion

August 4, 2020 Posted by: Jeremy Peterson

Broker Jeremy Peterson explains the unprecedented surge in house prices in Weber County Utah and reveals what is happening behind the headline housing numbers.

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VIDEO: Agent vs. Lender – Jeremy Peterson Interview with Ron Pippin and Taylor Archibald

July 24, 2020 Posted by: Jeremy Peterson

Thanks to Ron Pippin and Taylor Archibald with Cardinal Mortgage for hosting me on their Agent vs. Lender Podcast.  We discuss property management, current real estate market conditions, Ogden history, talk about historic homes, tell war stories, and more.  Check it out.  

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CHARTS: House Listing Inventory Drought Is Sellers’ Delight

February 24, 2020 Posted by: Jeremy Peterson

Listing inventory of homes for sale has been a persistent problem for buyers over the past several years.  While the pattern of available homes follows a predictable seasonal cycle that troughs in the winter and peaks in the summer, some years are better or worse than others.   Today we want to look at a chart that illustrates the severe drought we are facing in Weber County when it comes to homes on the market for sale.  Let’s take a look.     This information comes from the MLS and […]

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2020 Utah Housing Market Forecast

January 27, 2020 Posted by: Jeremy Peterson

Last year the University of Utah’s Kem C. Gardner Policy Institute made some predictions about the direction of the housing market.  Meanwhile, we made our own.   Here is how things turned out:   2019 Predictions: Weber County House Prices KGPI : +10% Vesta:  +3% What Actually Happened: +10.1%   Sales Volume KGPI: +4% Vesta: -5% What Actually Happened:  +1.5%   Last year we thought that increasing interest rates would put a sag into sales and cap prices somewhat.  Our predictions failed as interest rates surprisingly dropped back to historic lows.   This year the housing […]

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VIDEO: Northern Utah Real Estate Prices Rising While Payments Falling?

October 16, 2019 Posted by: Jeremy Peterson

Watch as we discuss the strange happenings in Northern Utah’s real estate market as mortgage payments are falling faster than house prices are rising. Charts included!    

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CHARTS: Weber County Home Sales Growth Seesaw

October 7, 2019 Posted by: Jeremy Peterson

Weber County home sales growth is a good measure of how the real estate market is performing locally.  For Realtors, this measurement dictates whether being in the business is easy or hard.  During periods of sales growth, agents enjoy a bountiful harvest of sales until word gets out about how easy it is and new agents join the ranks to take their share of the crop.  When sales are shrinking (usually after a period of growth) agents joust with each other for business and work overtime in order to make […]

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HOUSE RICH: Utah Leads U.S. in Positive Home Equity

June 17, 2019 Posted by: Jeremy Peterson

    One of the perks of a real estate boom is increasing values and improving home equity.  During the Great Recession, many homeowners with mortgages saw their home’s value plummet below the balance they owed on their mortgage.  Being “upside down” on their homes led many owners to short sell or simply give up and let the bank foreclose.  In Utah, time has healed that wound and CoreLogic has come out with new figures showing just how robust Utah’s recovery has continued.   Here you can see that Utah’s […]

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CHARTS: Interest Rates and Affordable Housing

June 10, 2019 Posted by: Jeremy Peterson

The news cycle has been filled with stories of the affordable housing problem we are experiencing here in Utah. The problem is nationwide but there are some unique features to our problems locally. First, a lack of land prevents the continued suburban sprawl that is the hallmark of the last 60 years of Utah’s development. Compounding the problem is that zoning laws in most of Utah’s small municipalities shun higher density housing projects which could alleviate the imbalance of supply and demand for housing.   Despite these macro forces creating […]

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VIDEO: Have Northern Utah House Prices Peaked?

April 17, 2019 Posted by: Jeremy Peterson

Explore the latest market info to answer questions about affordability and the future of Northern Utah house prices with Broker Jeremy Peterson.  

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CHARTS:  Signs of the Times

January 14, 2019 Posted by: Jeremy Peterson

The numbers are in for December as we finally close the book on an interesting 2018.  Numbers for the last month of the year show that the market is beginning to move in a new direction for the first time in 7 years.  But first, lets take a look at the big picture…   This is our long standing historical record for real estate transaction volume in Weber County over the past 22 years.  The gray bars represent monthly sales.  The red line represents the 12 month moving average.  You […]

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2019 Dueling Housing Forecasts

Posted by: Jeremy Peterson

The Northern Wasatch Association of Realtors recently held its annual Economic Forecast Breakfast at the Davis Conference Center in Layton.  As has happened in previous meetings, the Kem C. Gardner Policy Institute at the University of Utah presented their best guesses as to what would happen in the housing market for 2019.   A couple years ago I attended the summit and they predicted that house prices would go up about 10% for that year.  I didn’t believe them.  But they were right.  House prices did the same thing last […]

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CHART: Reaching Peak Expensive

December 18, 2018 Posted by: Jeremy Peterson

Utah’s housing shortage and affordability crises has been making headlines for the past year or so.  In April, I explained why I thought December of 2018 might be the turning point for affordability in the housing market.  At the time, I suggested that home values would top out around $125/SQFT if mortgage rates reached 5.5%.   We aren’t there yet…but we’re close.  Today rates are at 4.87% and homes in Weber County are valued around $123/SQFT.   You can see how those figures, combined with inflation, have shown up in our […]

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CHART:  The Real Estate Market Shift Begins

November 16, 2018 Posted by: Jeremy Peterson

The real estate market moves in cycles.  For the last several years, many of us in the industry have been waiting for the market to reach its top and then move in a different direction.  The ebb and flow of the market is as natural the sun rising and setting, although, it is much less predictable.  But, despite the difficulty in predicting timing, we can spot signs along the way that tell us what is happening and where we are in the cycle.   Today’s chart shows us that we […]

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VIDEO:  Investing and Surviving in the 2018 Real Estate Market

August 8, 2018 Posted by: Jeremy Peterson

I recently was invited to present to the Northern Utah Real Estate Investors Association which holds monthly meetings on Ogden, Utah.  To inform our audience, I updated many of my market charts and presented this latest information to the group.  We had a lively discussion and talked about many issues relevant to real estate investors who are seeking to increase their wealth.  

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VIDEO: Northern Utah Real Estate Values Down in May – But Why?

June 14, 2018 Posted by: Jeremy Peterson

May turned out to be a very interesting month with Northern Utah real estate values declining in Spring in a meaningful way for the first time in 7 years.  Learn more about what is happening in the market and why things might be changing in the future.  

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