Riverton, 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 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 with low and/or no risk tolerance to purchase. High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing. Some are trying to time the market and market timing is risky. Trying to time the bottom is not for the inexperienc...