Home sales rise 9.4 pct in Sept., beats forecast – Yahoo! News.

So I thought you would all find this interesting. Apparently people are still buying houses? An interesting local statistic. Last October Salt Lake County Real Estate saw an average of 125 houses going under contract every 5 days. The interesting statistic right now is, so far this October we are seeing an average of 227 houses going under contract every 5 days.

This is an indicator of properties in Salt Lake County that will be selling or closing in the near future. That is an 81% increase over last year. Another statistic of our local Real Estate market you will find interesting, is our last 4 weeks have seen more under-contracts than compared to the entire last year. Including those hot peak summer months. What does this mean? Well, to be honest, 1- it means buyers are trying to take advantage of all the crazy great incentives there are right now. 2- it also means with interest rates as low as they are, people are starting to realize that the chance of them going down any more is probably a wish that will never come to fruition. Last week we just had a client lock at 4.5%… That is by far one of the lowest rates I have ever seen. Interesting stuff happening in good old Salt Lake City UTAH Real Estate. Let me know if you have any questions..

Spencer Janke