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3RD-QUARTER HOME SALES ROSE 3.34 PERCENT ABOVE SAME PERIOD IN ’88

SHARE 3RD-QUARTER HOME SALES ROSE 3.34 PERCENT ABOVE SAME PERIOD IN ’88

Homes sales in the Salt Lake area increased 3.34 percent in the third quarter of 1989 compared to the same period a year ago, according to the Salt Lake Board of Realtors. In the first nine months of 1989, home sales are 2.1 percent behind the 1988 figure.

Scott Webber, board president, said 1,517 single family homes were sold during the third quarter, slightly higher than the 1,468 homes sold in the same period a year ago."Home sales during 1989 are shaping up to be a mirror-image of what we experience in 1988," Webber said. "The quarter did have one standout, a 15.88 percent increase in September. During the busy summer months, buyers obviously took advantage of steady interest rates and the good selection of homes on the market."

Webber said overall residential property sales, which include single-family homes, condominiums, apartments, duplexes and vacant lots, totaled 1,800, less than a 1 percent increase over the 1988 figure. Residential dollar volume increased by less than 1 percent and single-family house dollar volume increased 2.61 percent.

In the third quarter, 160 condominium sales totaled $9.5 million; 30 duplex sales totaled $1.7 million; 12 apartment sales totaled $1.8 million; and 81 vacant lot sales totaled $2.7 million.