Cottonwood, Utah; Current Market Conditions
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 listingsand higher percent of new listings being SOLD. SUMMARY Has the Utah Real Estate Market bottomed? Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom. This is NOT a good time for those investor with low and/or no risk tolerance to purchase. Investors with a long term buy and hold strategic. Opportunities are starting to make sense. Contact your property resource specialist for information to make an inf...