Number of Homes for Sale in Logan Rising Quickly
This is some information for Alan Barker who is our very own in house market stat coordinator. I thought his finding were interesting and good for current sellers to understand.
Within the last two weeks, the number of homes on the market in Logan, Utah has risen by nearly 5%. Exactly one week ago, Cache County had 687 residential real estate listings. Right now there are 720.
Last year we did hit inventory levels this high until around March, when the Spring listing season typically hits. March and April are typically big months for listing homes for sale.
Some of the increase in inventory can be attributed to the $6,500 move up tax credit. People want to sell by April so they can get the government money when they buy their new homes. However, this sharp spike in the number of homes for sale in Logan is alarming. Home prices will continue to decline as long as there are more homes on the market than there are buyers. At last years pace of home sales, we have more than 9 months of Cache County real estate inventory right now.
