I agree with Cheryl, you will hear differing opinions on this subject. I think we are experiencing a bit of a "buyers market" right now. We do have an extensive inventory of homes on the market, especially in the new construction sector. New homes can be some of the hottest deals around right now. Homes that are in top notch condition and are priced well are still attracting buyers. Homes that are not in the best condition or are priced on the high side tend to be sitting and some for quite a long time. Just like in any buyers market.... price talks and everything else walks. On that note, I highly recomend that you contact a Realtor in the area you are interested in moving to or investing in. They will be able to give you the most help in finding what is a good deal and what is not. If you are seriously thinking of buying, now, or in the next few months is probably as good as it is going to get. I seriously doubt that the housing market will stay slow, at least in Utah. Our inventory is reducing, and over the course of the next 6 to 12 months I think the scale will tip back toward a growth mode again. In terms of jobs in SLC, I am not an employment expert or an economist. That being said, I have heard many positive things coming from the employment sector. Large companies are moving into the state. Procter&Gamble, Toyota, etc.... are moving here or are buying land to move here. Also the local newspaper, (The Standard Examiner) reported that our incomes accross the payscale increased last year overall. Our job growth has positive outlooks at least from the info I have seen. Hope this helps you and good luck in your home search!
Realtor (801) 391-9811
Century21 Golden Spike Realty
You will hear opinions extolling both sides of the equation. There are good resources available that track the statistics. An article I saw today by a company that specializes in analyzing new housing trends (tracking housing starts and completed inventory) stated that in the first quarter of 2008, the number of unsold (completed) new homes/condominiums in Salt Lake County was 977 units, down from 1,037 in the last quarter of 2007, about a 6 percent difference.
The article looked at Utah county as well, and has great insights into what this particular company sees happening over the next several months. While a little lengthy to post here, contact me for additional information.
Happy home searching!
Cheryl Lyon, ABR, GRI, e-PRO, Previews Specialist, REALTOR
Coldwell Banker Residential Brokerage--Draper, Utah