Centerville, Utah Real Estate, Has the Market Bottomed?
By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months. PRICE ACTION Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD. On a year over year, YTD comparison currently (.89) % of new listings are being sold. SUMMARY Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom. This is NOT a good time for conservative buyers to purchase. High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel fr...