The Weber County housing market continues to surprise us in its robustness. To make the point, I put together some charts showing recent sales and price movements.
Our first chart shows us year-over-year sales growth per month. As you can see, when compared to the same month last year, the past 12 months have seen solid sales growth with the exception of October.
This growth shows up in the volume chart:
Amazingly, June sale are the highest they have been since June 2007! The trendline has also taken a stiff trajectory change upward after plateauing for the last two years.
Finally, prices have seen significant movement:
Recent median sales prices are the highest they have ever been in Weber County. We now have exceeded our 2008 peak median housing price and then some.
So what does all this mean? While I don't expect a housing wipeout, I do expect housing prices to moderate and perhaps stagnate sometime in the near future. A jobs recession would cool the acceleration in price increases but timing on that is anyone's guess.
In the meantime, it is a perfect time to sell your home. If you want to know what your home is worth, CONTACT ME, and let's review the fair market price of your property.
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