Roy, UT

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 (14.17) % 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 free to contact me.

Data considered accurate... However is NOT Guaranteed. Contact your Local Realtor for the most up-to-date data.

Roy has a lot to offer: variety, convenience, and reasonable housing prices. The home prices have been averaging $164,334 for the last 30 days making it affordable for many first time buyers. The result is that homes in Roy have been moving fast. They have been selling in far less time than the state average of 83 days.

In the Roy area there have been 34 homes sold in the last 30 days. They have ranged in price from $45,000 to $301,000 with an average of 57 days to get sold. Homes under $150,000 are moving at a faster rate of only 49 days on the market compared to homes over $150,000 that are taking an average of 61 days to sell. At the time of this report there were 289 homes for sale in Roy. There is 8.5 months worth of inventory available in Roy making is a slight buyers market.

For more information visit my web site at www.jimmcewen.com or give me a call at 801-686-5550

There are as of 10 May 2008, 239 active homes on the market with another 88 homes under contract for a total of 207. By calculating what percentage of that total the 88 homes under contract are you know if Roy is a buyers or a sellers market.

88 divided by 327 = 27%.

If the % is under 25 percent then it is a buyers market. If it's over 25% then it's a sellers market.

So Roy, UT is currently experiencing a seller's market.

To find out more about market conditions in Utah just give me a call at 801-540-3825