Number of REALTORS a Utah Market Indicator
by Joel Carson
I have some good news … and some bad news. Which would you like first?
Well, since we’re within mere hours of sitting down to a feast of gratitude, I’ll start with the good news in the spirit of thanks.
There are many ways to “read” the Salt Lake City and Utah housing markets. Many indicators help us test the temperature of the market and therefore its overall health. REALTORS® are business people through and through. Although they are passionate about their line of work, they’re smart enough to know when to say “when.” Therefore, the number of Utah REALTORS® during any given period of time is a good indication of their confidence in the market.
This year the Salt Lake Board or REALTORS® saw a 6 percent increase in the number of REALTORS® from August to September—5,080 vs. 5,366—according to a press release issued by the board on Oct. 25, 2010. The entire state experienced a .23 percent increase during that period—11,800 jumped to 13,536.
Now, I should clarify that a REALTOR® is a licensed real estate agent who subscribes to the ethical codes and standards of the National Association of REALTORS® (NAR). These membership numbers are often used to gauge professional confidence and success.
The bad news, admittedly softened by the fact that things are looking up, is that Utah ranked second in the nation for seeing the largest drop in REALTOR® membership numbers over the past year—September to September.
“As of September 2010, there were 13,536 REALTORS® in Utah, down 12.63 percent compared to the same month a year earlier. Georgia had the biggest drop in REALTOR® membership numbers at 12.7 percent. North Dakota witnessed the biggest increase in REALTOR® numbers at 1.7 percent. Nationally, REALTOR® memberships dropped 4.23 percent over the past year,” the Salt Lake Board of REALTORS® press release announced.
The slight increase in membership numbers in Utah tells me that a cold, cold market is slowly warming and professional REALTORS® are testing the waters once again and ready to move forward.
A Word of Thanks
I want you, my customers, clients, and followers to know how grateful I am to have weathered the economic storm that has pelted many industries lo these many months. All of you helped make that possible. I am confident the housing market will continue to grow stronger. I’m confident in our state’s leadership and am extremely grateful that Utah’s economy is still one of the strongest state economies in the nation.
Let’s Buy and Sell Some Homes
Let’s keep this economy rolling. If you have a Salt Lake City home to buy or a Salt Lake City home to sell, contact us immediately. We have a tremendous network of buyers and sellers who can’t wait to do business with you. We have the resources to help you buy or sell your Park City home, Deer Valley home, or your home in West Jordan. No matter where your Utah home is located, we offer you full real estate services.
Please, have a wonderful Thanksgiving!
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