1.
FOR IMMEDIATE RELEASE CONTACT
Karianne Salisbury
Communications Director
Phone: 801-226-3777
Email: karianne@ucaor.com
Housing Sales Soar and Prices Rise
UTAH COUNTY—When the topic comes to housing in Utah County, sales are up, prices are rising, and
it’s time for new sellers to enter the market.
Stats released last week by the Utah County Association of REALTORS® (UCAR) show July housing sales
soaring more than 11 percent over 2011 sales. These numbers support a solid increase of year-to-date sales at
a 6 percent gain overall.
“Buyers and sellers are constantly wanting to time the market to buy low and sell high,” says Stephanie
Vincent, 2012 UCAR president. “Bottom line, now is the right time to buy and sell real estate. Interest rates
are still low, and prices are on their way up.”
In fact, prices show a strong 9 percent increase from July 2011 to July 2012. While the median price of a
home in Utah County is currently $191,000, sales of homes priced above $250K improved by 11 percent.
The market may be seeing more sales than it can handle, as inventory has now dropped 22 percent. New
sellers have an excellent opportunity to jump into a market with motivated buyers and healthy competition.
“The inventory level is my biggest concern right now,” Oldroyd says. “We need more homes or new
construction listed for sale to relieve pressure that could cause prices to rise faster than we can sustain.”
But finding room for growth will be a simple problem for Utah County to handle. Orem was recently
recognized by CNNMoney as one of the top 100 places to live, while Utah was named the No. 1 state for
business.
The Utah County Association of REALTORS® is the local voice of real estate and is committed to its motto,
“Bringing people home.” The association releases monthly housing statistics on the 25th of each month on
www.ucaor.com/stats. For more information, contact the office at (801) 226-3777.