SALT LAKE CITY — September dwelling gross sales within the Beehive State fell 25.5% in comparison with the identical month final yr, in keeping with the Utah Affiliation of Realtors.
“The market is trending slower,” stated Adam Kirkham, the affiliation’s vice chairman and an affiliate dealer at Summit Sotheby’s. “The costs are coming down barely and it’s largely due to the upper rates of interest.”
Even with the slowdown in gross sales, the year-over-year median dwelling gross sales value in Utah elevated by 6.5% to $490,000 in September. Nonetheless, dwelling costs have fallen since their peak of $539,000 in Could of this yr.
Advertisement
“We’re seeing value declines,” stated Dejan Eskic with the Kem C. Gardner Coverage Institute. “Throughout the Wasatch Entrance since Could, we’ve seen a couple of 7% value decline. Statewide, about 9% since Could. The market is correcting so as to transfer.”
These seeking to purchase a house proper now have extra choices and extra bargaining energy than they’ve had in recent times. The variety of houses in the marketplace in Utah elevated 79.4% in September from a yr earlier.
“By way of costs, I feel we’ll begin seeing year-over-year declines come late winter and early spring,” Eskic stated.
It’s now taking a mean of 40 days for a house to go underneath contract, in comparison with 21 days final September.
Eskic and Kirkham stated the massive pause in purchaser exercise could be blamed on the fast rise in mortgage rates of interest — now averaging above 7% for a 30-year-fixed mortgage.
Advertisement
“I’ve been on this trade for 20 years and I’ve by no means seen a rise in charges this quickly,” Kirkham stated.
It’s not simply the upper charges which have consumers sitting on the sidelines, but in addition the unpredictability with charge fluctuations.
“It is a rate-driven slowdown out there,” Kirkham stated. “So if charges had been to settle in and even fall, we’d really see consumers come again into the market and costs might really enhance.”
“If rates of interest had been at 6%, or say, within the fives, we’d see much more exercise,” Eskic stated.
In line with the Nationwide Affiliation of Realtors, month-to-month mortgage funds are greater than 55% increased than a yr in the past.
Advertisement
“Affordability challenges have priced many consumers out of the market this yr, and consumers who do achieve buying a house are discovering that the prices of homeownership have elevated considerably,” stated the September report from the Utah Affiliation of Realtors.
Utah nonetheless has demand for housing due to the state’s robust job market and inhabitants progress. Eskic stated present slowdown is inflicting homebuilders to tug again on permits.
“We’re going to see lots much less housing product coming on-line and that, in itself, places us in a troublesome state of affairs, as effectively, as we develop,” Eskic stated.
A group of firefighters from Utah are on the ground in California helping to fight the wildfires.
The Utah firefighters are expected to stay in the area for 14 days.
The crews from Utah are working to make sure the fire doesn’t start back up in areas it has already passed through.
A group of 64 firefighters from Utah responded to California’s call for frontline help with last week’s destructive wildfires, and find themselves on the ground in the Malibu area working to prevent the large destructive Palisades fire from spreading.
“I think the biggest thing for a lot of us is just feeling like we’re maybe on some kind of a movie set, or some kind of apocalyptic movie. The sheer destruction is, kind of overwhelming,” said Kelly Bird, a spokesperson from Unified Fire who is in California with crews of Utah firefighters.
Last Thursday, the group of firefighters and mechanics from various agencies in Utah met together and made their way to California to join the fight. The group drove through the night and arrived in California Friday morning.
The Utah crews are working to help contain the Palisades fire, the biggest and most destructive of the fires burning in Southern California.
What have the Utah firefighters been doing in California?
After they arrived Friday, the Utah crews were assigned to work on the fire line in Encino. They worked in a defensive, structure protection position, preparing for the Palisades fire to hit that area. This work focused on protecting residences, finding hazards, checking water pressure in hydrants and other prep work.
Advertisement
These firefighters work 24 hours on and 24 off, so after working through Saturday they had Sunday off. On Monday morning the Utah crews were were reassigned to the Malibu area.
Bird said they were assigned to residential areas that the fire had already burned through and wiped out pretty significantly. There they did mop up work, “going through the different residences and looking for hot spots, looking for anything that was smoldering and smoking, and just making sure everything was fully extinguished.”
They then spent Monday night on patrol, ready to tackle any flames that started due to the strong winds picking back up.
Tuesday is another day off for the Utah firefighters and they will be reassigned again on Wednesday.
United Fire Authority along with dozens of other Utah fire departments responded to the call for help from California officials for the massive wildfires that broke out Tuesday, Jan. 7, 2025. | Unified Fire Authority
What life is like for these Utah firefighters
Bird said residents in the area have taken very good care of these Utah firefighters, with plenty of food being donated as they help fight the fire.
Advertisement
“People find us wherever we are, and they bring us catered meals, they bring us burritos, they bring us snacks, granola bars, cases of water, cases of drinks, and it’s just non-stop,” Bird said. “We’re just glad and happy that we can provide that little bit of relief for them.”
The Utah crews were originally going to be housed in a Hotel in downtown Los Angeles but then were moved to Santa Monica.
The firefighters are staying in an office building, taking over space on a vacant third floor. Portable bathrooms and showers have been brought in for the crews to use. The crews have their own sleeping gear, they have taken their own spots on the floor with the firefighters sleeping in sleeping bags and on cots.
Utah firefighters shared what the destruction from the fires is like
Bird said that the biggest difference between this and other fires he’s worked is the amount of urban areas that have been impacted, as most wildfires happen in the mountains, further away from cities. The amount of destruction from these fires is unlike anything he’s seen before.
“Just the magnitude of and volume of people that have been impacted, is definitely impactful for us,” Bird said.
Advertisement
United Fire Authority along with dozens of other Utah fire departments responded to the call for help from California officials for the massive wildfires that broke out Tuesday, Jan. 7, 2025. | Unified Fire Authority
He shared that as they were working, they came across one house that had been destroyed that they could tell had been a very nice house.
They looked it up and saw it was advertised $12 million home in a nice location, Bird described his realization at that moment.
“This was somebody’s … their everything. This was something they had worked for and built and enjoyed, and now it’s gone,” Bird said. “And you know, that happens over and over and over again, with all these people here losing their homes and losing all their personal possessions.”
According to Bird, the fire is dying down but he expects the Utah group will be in California through the entirety of their 14 day deployment.
The conditions in California with dry conditions, low humidity and high winds made it the perfect place for fires to ignite and spread rapidly.
“Once those winds and fire mix, there’s there’s just no stopping it,” Bird said. “So the reason why it wiped things out is that just it overwhelmed the whole system, and they weren’t able to get a handle on it because the winds just blew it from one structure to the next in a matter of seconds.”
Advertisement
United Fire Authority along with dozens of other Utah fire departments responded to the call for help from California officials for the massive wildfires that broke out Tuesday, Jan. 7, 2025. | Unified Fire Authority
SALT LAKE CITY — Two Utah juveniles are now in custody accused of stealing vehicles they weren’t even old enough to drive and ramming them into stores to rob them. The suspects’ identities aren’t being released due to their age. “… these are juveniles, under the age of 18. I mean anywhere from middle school to high school age,” stated Sergeant Aymee Race with the Unified Police Department.
A little over a week ago, detectives say the suspects drove into the T-Mobile store in Mill Creek in the middle of the night, jumped out, and attempted to grab merchandise. They were unsuccessful however and ran away.
A few days later, police say the same suspects committed a successful drive-through, smash, and grab at another cell phone store in Kearns.
Unified Police Detectives say that the suspects never covered their faces and investigators were able to learn from security cameras who they were and went to their homes and arrested the two juveniles.
Advertisement
“And we were able to determine not only in Salt Lake County, Utah County, these individuals have gone around, crashing into businesses and stealing large, high priced items and damaging businesses,” Sgt. Race told FOX 13 News.
According to police, the vehicles used in these smash-and-grab crimes were stolen and they believe the suspects have been doing this for a while all across the Wasatch Front. Detectives in the Metro Gang Unit say they have also identified the people in custody as being documented gang members.
Police are still searching for additional suspects, both male and female, and anyone with information is asked to call Unified Police at 801-840-4000.
/cdn.vox-cdn.com/uploads/chorus_asset/file/25822586/STK169_ZUCKERBERG_MAGA_STKS491_CVIRGINIA_A.jpg "Meta is highlighting a splintering global approach to online speech")
/cdn.vox-cdn.com/uploads/chorus_asset/file/25821992/videoframe_720397.png "Las Vegas police release ChatGPT logs from the suspect in the Cybertruck explosion")
