The absorption report is calculated by number of homes sold plus those under-contract homes.
The market has been absorpting the inventory. I would guess (don't have the data) the tax credit has helped.
New home construction is also down from the over the last couple of years. This helps to create less inventory and thereby improves the absorption.
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Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc.and a Utah license Loan Officer with Springwater Capital, LLC
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