Utah County Association of REALTORS®
Monthly Statistics
To:		Brokers and Agents
From:		Taylor Oldroyd, CEO of the Utah County Association of REALTORS®
Subject:		Monthly Statistics - July 2010
	1	Sales of existing homes fell sharply from 2009's 573 homes sold to this year's 360, a 37 percent drop.
	2	Total sales for the year continue to out-pace 2009's sales with 2,859 units sold compared to 2,762 sold last year. The monthly drop narrowed what had been a significant year-to-date increase.
	3	Pricing remained virtually the same with only a $4,500 dollar drop from $203,500 last July to $199,000 this July.
	4	Condo sales fell dramatically, more than 67 percent, from 94 sales last July to only 31 sales this July.
	5	Condo prices continued to drop from $148,000 to $129,900, contributing to the sluggish sales.
Summary		The post-stimulus blues hit consumers, shown as the sales of existing homes fell 37 percent in July. Most analysts predicted a market slowing following the availability of incentives. These same analysts now predict this slowing will last only a short time as price stability and historically low lending rates will attract buyers and investors back into the market. Further, price stability will increase buyers' confidence that the bottom is near and not to be missed.