This first chart is a little scary. Especially for Salt Lake and Utah Counties. We have broken the barriers for depreciation year over year at least for as far as our chart goes back in history to 1986. If you look at the Ogden curve, it seems to be flattening out while the other two counties are still accelerating in their depreciation.
The next chart shows was what is happening to the price points in index form. The flattening out is evident in the Ogden curve while Salt Lake and Utah County look like a ride from Lagoon.
My take on things, judging from the current market, is that prices have stabilized where they are going to be for a little while...at least in the Ogden market. Look for the appreciation curve to return to Zero over the next few quarters and stay there for a few years.
However, there could be another shift downward if unemployment takes a significant hike upwards. Lets hope that is not the case.
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