Browsing Posts From: Research

Do you have an real estate question that you want an answer to? Feel free to ask! And enjoy this market update: If you have any real estate needs, give me a call at 801-390-1480.

The summer selling season is coming to a close this year and its time to take a look at what has happened since our last update.   PRICE ACTION Despite the pervasively high interest rate environment, house prices have continued to lurch upwards since their 2022 slump.  This summer saw prices climb to near their peaks from early 2022.   However, when we adjust house prices for inflation, house prices haven’t surged nearly as much.  While modestly climbing, overall values remain about where they were last summer.   So, it […]

It is time for our Spring market update.  In this episode we talk about house prices and the gap between owning and renting.   If you want to know what you can afford to buy in today’s market, give me a call. 801-390-1480

The real estate market appears to be finding its footing after a disorienting adjustment to the high interest rates prevailing for mortgages.  While everyone has been waiting for interest rates to drop, those who know seem to indicate we aren’t going to see much change in the near future.  We will have to learn to live in a market as it is rather than as we wish it to be.  So, lets take a moment and see what is.   Sales volumes appears to be stabilizing after more than a […]

The relatively recent rise in interest rates created an ice storm over the multi-unit real estate market here in Weber County.  Our latest chart shows just how significant the impact has been on sales volume over the past year. The last time Weber County saw multi-unit sales this low was during the dysfunctional mortgage lender meltdown of the Great Financial Crisis.  But unlike last time, when mortgage companies performed hari-kari and disappeared into the scrapbooks of banking history, the current drought in business is strictly related to pricing.  With interest […]

The recent slump in sales volume has discouraged many in the real estate industry.  However, there are powerful demographic forces lying under the surface that have the potential to kick the market back into overdrive.   To begin our discussion, let’s look at Weber County’s population growth vs. sales volume growth.     In a perfect homogenous world, we would expect sales volume to increase in lockstep with population growth.  Of course, interest rates would never change, the ratio of homeowners to renters would be fixed, people would move-up at fixed […]

After a prolonged staring contest, the real estate market is entering a new phase as interest rates have reached a recent peak and market participants acclimate to the new reality of the cost of money. The next chapter will be written in a year promising political, geo-political, and yet-to-be-known fireworks.  Before we prognosticate on what the future holds, let’s take a look at where we left off.   Our inflation adjusted house price chart shows that we ended 2023 just a little above where we started.  A choppy mid-year bump […]

A lot of attention has been paid to mortgage interest rates over the past two years as rates have soared from a low of 2.77% in August 2021 to today’s nosebleed rates approaching 8%.  Obviously, higher rates have translated into lower sales volumes.  But, real estate sales aren’t just affected by the level of interest rates.  They are also affected by the direction and speed which rates move regardless of level. To illustrate the point, let’s take a look at the time period between June and October in both 2022 […]

Due to some technical difficulties with video, today’s market update comes to you in the form of an old fashioned written blog.  So, let’s commence with something we should probably be doing a lot more of anyway…reading. We will start with the villain of today’s story which happens to be 30-Year Mortgage interest rates.  They will be lurking in the background laughing as I present the rest of today’s charts.  As you can see, rates are high and headed higher.  That market is reacting accordingly. Inflation adjusted house prices in […]

Check out the latest charts and graphs as the real estate market continues its dynamic adjustment to mortgage rates and other economic forces.

The market continues to shift. Here is the latest charts, graphs, and stats.     If you need help with buying, selling, or property management, give me a call at 801-390-1480

It’s time for another market update.  This one is a doozer.  Sit down before watching.  The numbers are big.

In 2014 I wrote about the disparity between two of Ogden’s most prominent neighborhoods, the venerated East Bench and the heretofore notorious East Central now  co-branded as Trolley District.  At that time, with the market beginning to heal from the deep wounds of the 2008-2012 real estate depression, there were some early signs of adjustment between the two neighborhoods. Today we revisit this topic with some new charts to illustrate the point.  Yesteryear’s charts consumed a lot of data and time.  This go around I wanted to illustrate the differences […]

Broker Jeremy Peterson offers the latest charts and graphs showing the remarkable change in market conditions in Weber County , Utah. To answer questions about this ever changing market, contact Jeremy at 801-390-1480