Taylor Oldroyd, the CEO of Utah County Association of REALTORS®
 recently sent this letter. I thought it was interesting enough to pass on.

Message from UCAR CEO, Taylor Oldroyd
 
 
Thank you for meeting with us to discuss the loan limit situation in Utah County during the National Association of REALTOR® conference in May.
 
As we mentioned and as the data below demonstrates, the housing market between the counties along the Wasatch Front is historically similar; the loan rates should also be similar. The Wasatch Front, as the area west of the mountains is called, runs north and south, not east and west like the Metropolitan Statistical Area (MSA) boundary. The map we left you is remarkable in demonstrating the fact that whether you’re analyzing population, economics, transportation needs, or housing, you would factor the Wasatch Front and the Wasatch Back as two separate markets.
 
The use of the MSA is not a wise boundary to establish loan limits because it reflects commuting patterns and is not good for housing price comparables. Therefore, we seek immediate relief from the negative unintended consequences from the use of the MSA boundary. The huge loan limit disparity between Utah and Salt Lake Counties is placing down-ward pressure on our market and neutralizing the simulative benefit intended by recent Congressional action.
 
Given that the Federal Housing Finance Authority has the administrative ability to adjust the loan limits, please adjust our limit to match that of Salt Lake County. We are prepared to demonstrate that without immediate relief, our market will continue to suffer. We have real-life gathered examples of lost deals and other negative impacts on our market. Our Congressional delegation is also prepared to provide whatever political support you might need.
 
I recognize the administrative challenges to making these adjustments. However, please consider the real-life challenges and negative market impacts that will continue if you fail to act.
 
Thank you for your prompt attention and please let us know if you have an questions or concerns.
 
Sincerely,

Taylor Oldroyd, CEO Utah County Association of REALTORS®

Here is the same report for Provo. It is a little different format. The List price is the 2nd number to the right of the picture and the Sold price is the second number from the end of the right side.