Saturday, October 01, 2005

Home sales trends in North Orem Utah

The wife and I may or may not buy a different house in the next 3-5 years, so we are interested in house price trends. Since we are looking to buy a house more expensive than the one we have now, we hope that home prices stay flat or drop (because our present house will increase in value more slowly than a house with more value).

Here are the trends done as linear fits to the data for the last 4 years (drumroll please...):

In which the sales price trend looks remarkably flat and the number of homes sold is rising a little more quickly. I am no economist, but I would say that the data suggest that demand is rising but supply is keeping pace. Good for me!

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