Plus, what Sen. Mitt Romney and House Speaker Brad Wilson saw on the Great Salt Lake
| Why the housing market is in recession in terms of sales — but not prices |
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The latest development in the U.S. housing market rollercoaster comes from looking at July's data, specifically at dipping sales numbers. "We’re witnessing a housing recession in terms of declining home sales and homebuilding. However, it’s not a recession in home prices. Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price,” Lawrence Yun, chief economist for the National Association of Realtors, said in a prepared statement. So where does this leave Utah? Well, according to a recent report by real estate company RE/MAX, Salt Lake City came in fourth place on a list of the top five markets that saw the biggest year-over-year decrease in closed transactions. However, inventory of homes also saw a dramatic boost as sales slowed. |
Read more on what experts are saying about the current market, and how it may affect buyers and sellers. |
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In order to fully understand the challenges that the Great Salt Lake is facing, it's helpful to visit the lake in person. Sen. Mitt Romney and state House Speaker Brad Wilson did just that on Friday, as the two were part of a group that took a tour of the lake to educate themselves on the Great Salt Lake's complex ecosystems and to brainstorm ideas on how to help its dwindling water levels. Read more about what officials, including Romney and Wilson, are saying about the lake. More in Politics: What Mitt Romney says is his most rewarding professional experience (Deseret News) Joe Manchin takes a jab at Kyrsten Sinema for reining in drug pricing policy (NBC News) Utah Democrats demand Rep. Joel Ferry resign from Legislature, take name off November ballot (The Salt Lake Tribune 🔒) |
Health: Study: Most people infected with COVID don’t even know it (Deseret News) Mosquitoes and medication shortages plague new Utah State Correctional Facility, say inmates (KUER) Education: Opinion: ‘Be a builder’ — What I learned from teachers working through their hardest years (Deseret News) Davis School District’s new leadership faces a new year following last year’s DOJ settlement (KUER) Faith: It’s tough out there for singles. What can churches do to help? (Deseret News) What has Andrew Garfield said about his spirituality? (Deseret News) Northern Utah: ‘Our election security is real’: Sen. Mitt Romney visits Weber County Elections Office (ABC4) 30 firefighters respond to fire at Ogden apartment building construction site early Saturday morning (KSL.com) The Wasatch Front: How will Salt Lake City manage rise of homeless camps amid growing need? (KSL.com) Group gathers to rally against Utah's clergy reporting exemption (KSL.com) Southern Utah: 1 missing in flash flooding in Zion slot canyon; more floods expected this weekend (KSL.com) Officials respond to frustrations about I-15 construction toward Las Vegas (St. George News) The Nation: Poll: 69% of Native Americans say inflation is severely affecting their lives (NPR)
What investigations is former President Trump facing? (Deseret News) The World: Suicide missions, neo-Nazis and life inside Ukraine’s foreign legion (Deseret News) Mexico missing students: Former top official arrested over probe (BBC News) Tech: Voyager space mission turns 45 in unprecedented NASA success story (Deseret News)
Electric vehicle drivers are sick of broken EV chargers, survey says (Deseret News) Sports: The best brothers in the NFL, according to Derek Carr and his brother (Deseret News) Four Jazz home games in 2022-23 that will draw a buzz (Deseret News) |
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