Washington County Housing Report March, 2010

February, 2010 home sales were strong and up 75% from February, 2009. PUD/Condo sales also climbed 43% year over year. Year to date vacant lot sales more than doubled over last year. West St. George, Washington City and Bloomington Hills enjoyed the largest percentage of year over year sales growth in Washington County. New lot sales were the highest in many months at 25 and resale lots jumped to a several month high at 31. Commercial sales dropped year over year. New building permits nearly doubled in February over January and both January and February building permits outpaced new home sales by a significant margin. Both notices of default and foreclosures dipped in February even though the ratio of foreclosures to notices of default remained high at around 50%. The number of loans remain low at only 428 real property loans in Washington County. A large percentage of sales continue to be cash. The average loan amount has climbed. After months of declining sales, stagnant permitting and growing foreclosures it is refreshing to see home sales up, lot sales up, permits up and foreclosures down.—SUTC Developer Services