It looks like the number of short sales and foreclosure homes are on the rise in Cache County Utah. Right now 5.2% of the current homes for sale in Logan UT, are listed as short sales. This is up nearly a percent and a half from July when just 3.62% of the homes for sale in Cache Valley were short sales. Logan itself has 12 short sales while the rest of Cache Valley has 34.
Compared with the rest of Utah, the number of short sale homes in Cache Valley are still very low. The Logan area has about 3 times less short sales than the next metro area. The further South you go, the higher the percentage of short sale homes you find. In the Ogden Real Estate market, 14.1 of the homes listed are short sales. 16.1% of the homes in Davis County are short sales as are 19.8 percent of Tooele Utah Real Estate listings. Salt Lake Real Estate has 22.4% of listed homes short sales, and Utah County is slightly worse with 22.5%.
The St. George area has the highest percentage of both short sales and foreclosures. One out of every four Southern Utah Homes for Sale is a short sale.
The high number of short sale homes is real evidence of how much home prices have gone down. It also makes the home buying process significantly more difficult.
If you are a Utah home buyer fed up with looking at and making offers on short sale properties, Cache Valley is the area where you may want to shop for real estate.