“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home

Holladay, Utah Real Estate, Is the Market bottom confirmed??? YES, NO, MAYBE

We still are having a low percent of new listings being SOLD. Currently (4.22)% on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom.

Please see data below.

PRICE ACTION

Holladay, Utah Real Estate price action

Other good signs in addition to positive price action is lower DOM (days of the market) and lower new listings.

SUMMARY

Currently we are not seeing the needed positive price action 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.

Thank you

mark watterson property resource specialist, utah real estate

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

Posted Monday Dec 15
( 12/15/08 07:35AM ) — Patricia Kennedy

Mark, it sounds like it might be OK for people with a buy and hold strategy, both owner/occupants and investors.

( 12/15/08 07:47AM ) — Bill Gassett Metrowest Massachusetts Real Estate

Mark I hope you see continued improvement in your market. Hopefully the fact that interest rates are at historic lows will be an additional help.

( 12/15/08 08:35AM ) — Mark Watterson Utah Real Estate

Patricia,


I think it can be the right time for some depending on their goals.  Everyone's situation is unique.

( 12/15/08 08:36AM ) — Mark Watterson Utah Real Estate

Bill,


Interest rates definitely have help the affordability factor and that should help the market recover.

Post a comment

Temporarily disabled — coming soon!