Ogden Utah Area home sales decline nearly 15%

Home sales in the entire Ogden, Utah area in June dropped 14.95 percent when compared to June of last year, while median home sales price as well shot down 8 percent, according to WFR multiple listing services of Utah issued report last week.

MLS data shows that an estimated 91 new and resale Ogden Houses and condos were sold last month, down 27 units when compared with 119 units sold in June 2009. The median home price in June 2010 was $115,000, below 8 percent than the registered $125,000 a year earlier.

Real Estate experts in the area says that the decline in sales was attributed in part to the expiration of the government home tax credit incentive in which a homebuyers must enter escrow on or before the April 30^th deadline.

The 62 pending contracts in June was down 15.07 percent from 73 in May, and the second lowest logged pending contacts this year. Economist and experts added that housing market in the area to be weak in the remaining months of this year because of heavy load of foreclosures in Ogden UT Real Estate market.