Are St. George Home Prices Crashing?

"Are St. George home prices crashing?" It's the question on everyone's mind, and in this enlightening conversation, Jeremy Larkin and professional appraiser Carl Wright deliver the definitive answer backed by hard data and decades of market experience.The short answer? No crash here. Home values in St. George have decreased just 2% year-over-year, a modest adjustment that's nowhere near the 40-50% freefall we saw during the 2008 housing crisis. Carl, whose R1 Appraisals requires appraisers to complete 2,000 hours of apprenticeship (compared to just 120 hours of schooling for realtors), brings a valuation specialist's perspective to what's really happening beneath the headlines.What makes this episode particularly valuable is the segment-by-segment breakdown of the market. While short-term rentals are "getting blasted" due to oversupply, townhomes are "selling like hotcakes" and actually appreciating in value. This nuanced view explains why some properties sit while others fly off the market. With 16% more inventory but only 2% more sales compared to last year, we've shifted from a seller's market to a buyer's market – a transition requiring smart strategies, not panic.For sellers, this episode offers practical wisdom on price reductions (the sweet spot is 2-5%) and the psychology of buyers who've already mentally categorized your home. For buyers worried about timing, Carl shares the remarkable statistic that St. George area home values have increased 650% since 1991, with no 10-year period in four decades showing a net decrease in values.Whether you're buying, selling, or simply caring for your most valuable asset, this episode cuts through the noise with clear guidance from two industry veterans who've successfully navigated multiple market cycles. Listen now to gain the perspective you need to make confident real estate decisions in today's evolving market.Have other questions about living in, moving to, or visiting St. George and Southern Utah? Just ask! P. 435-291-5443E. [email protected]: www.GoStGeorge.comInsta: https://www.instagram.com/larkingroupFB: https://www.facebook.com/StGeorgeExperts🌟 Who? Jeremy Larkin was born and raised in St. George, Utah and is the owner of The Larkin Group Real Estate Advisors.📍 Where? Washington and Iron County, Utah, including, but not limited to St. George, Washington City, Ivins, Santa Clara, Hurricane, LaVerkin, Toquerville, Cedar City and Parowan. 💈  What?  Jeremy and his team of expert advisors at The Larkin Group walk the best clients in the world through the brain surgery of Buying, Selling and Investing Southern Utah Real Estate! And perhaps more importantly, they LOVE this community and pouring their heart and soul into it!📻  Tune in! Jeremy is the host of The "St. George Real Estate Morning" Drive radio show 94.9 FM / 890 AM. You can stream the weekly program Thursdays at 8:35 AM here: https://tinyurl.com/radiorealestate   🙏 Give: The St. George Basket Brigade feeds 200+ families every Thanksgiving and supports local families, students and schools through organizations like Tan's Treats. Learn more and give at http://stgeorgebasketbrigade.org/🔍  SEARCH ALL HOMES AND LAND in Washington County https://www.gostgeorge.com/ 🔗 CHECK YOUR CURRENT HOME EQUITY @ https://www.gostgeorge.com/homevalueTimestamps:[00:00:00] Intro[00:02:16] Meet Carl Wright of R1 Appraisals[00:06:25] Appraiser vs. Realtor: What's the Difference?[00:10:50] Market Data: More Listings, Stable Sales[00:16:40] Price Reduction Strategy for Sellers[00:21:33] Long-Term Real Estate Growth in Utah