Coming Off the Mountain: Chart of Ogden Valley House Prices

A reader emailed me the other day and asked the following question:

I know it is just a guess... but when do you think the bottom would be for prices in Eden, Huntsville and Liberty?

Excellent question!  To answer that I dived into the sales records and produced this chart:

This is monthly data with a 12 month moving average (black line) superimposed over the top.  As you can see, the resort area experienced a wild ride as home prices doubled in the space three years! Commensurately, they have been cut in half again in nearly the same time time. 

Based on this chart, I believe that "rock bottom" will be found in 2012.  So, if you like skiing, mountain biking, and fresh mountain air, and you are in the market for a resort property, contact me and lets find an affordable bargain in Utah's hidden gem of Ogden Valley.