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2009-12-23 09:34:46
November home resales soar in SL County!

The Associated Press

Updated: 12/23/2009 01:28:51 AM MST

Sales of existing homes in Salt Lake County jumped 77 percent in November, compared with the same month last year, reflecting rising volumes in the West and the nation.

The Salt Lake Board of Realtors reported Tuesday that there were 1,071 homes and condominiums sold in November, versus 2,006 in November 2008, when the U.S. economy was deep in the midst of its downturn. But sales last month also were up 15 percent when compared to November 2007 (928).

Board president Ryan Kirkham said home purchases were pushed by lower prices, interest rates below 5 percent and buyer-incentive programs offered by the state and the federal government in the form of a tax credit.

'You take all those factors in, couple that with the fact there's a lot of great inventory, and it's been a tremendous time to be a buyer,' he said.

 
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