Roy Utah Real Estate home sales plummet in July

Fewer single-family homes and condos were sold in July compared to July 2009 sales, as reported by WFR multiple listings services. Specifically, sales of Roy UT homes for sale single-family homes and condos in Roy, Utah area fell 41.67 percent from 48 units sold a year ago to last month 28 units sold.

The median price paid for all new and resale houses and condos sold in Roy real estate market during the month of July was $152,000, modestly down 3.43 percent from $157,400 in June, and a decrease of 1.30 percent from $159,949 in July 2009. July’s median was 16.02 percent lower than the Roy Utah real estate median’s peak in September 2007 at $181,000. The dropped down in median last month was the first in the last five months.

There are many factors that driving in July’s unstable Roy Utah real estate property market. But one of the most crucial factors is the instability of the job market. It can also be attributed to the expiration of the federal home buyer tax credit program, but for whatever reason the drop in sales is not a good sign for Roy UT real estate housing recovery.