Herriman, Utah; Current Market Conditions

By
Real Estate Agent

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

 Herriman

 

 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 informed buying decision.

Owner/occupied homeowners need to look at the cost to own versus the cost to rent.  Then you need consultant a resource specialist for information to make an informed buying decision.

riskHigh and medium risk tolerant investors and some homeowners are making buying decisions

Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperienced buyer and extremely difficult. 

Those waiting for a market bottom confirmation will (almost always) miss the bottom.  This is because confirming factors are lagging indicators.

 

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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

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties.  View comprehensive property resource information at www.markwatterson.com or www.UtahMark.com

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Tags:
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utah
market bottom
market conditions
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home
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buying
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Ambassador
1,202,499
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

I love that you're showing CDOM.  I wish we had that.

Jun 06, 2010 10:36 PM #1
Rainmaker
221,773
Mark Watterson
Salt Lake City, UT
Utah Real Estate

Tammie- I do too.  Much better picture of actual time of the market.

Jun 07, 2010 07:21 PM #2
Rainmaker
839,534
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Great presentation1

Jun 10, 2010 09:14 PM #3
Rainmaker
619,297
Thom Abbott
MyMidtownMojo.com Thomas Ramon Realty - Atlanta, GA
Midtown Atlanta Condos For Sale

Mark...caught your comment on Carla's blog about here new idea and the Voice of America.

You might want to consider expanding your blogging horizon and put more on your blog than just market stats. I know NOTHING about your area and by telling people about the area, along with your market reports will get you more readers and more exposure.

I've got SOOOO much content to write about, I just can't find the time to do the writing!

Jun 12, 2010 10:04 AM #4
Rainmaker
221,773
Mark Watterson
Salt Lake City, UT
Utah Real Estate

Joshua-  Thank you

Thomas - Your right.  Thank you for your comment.

Jun 12, 2010 10:11 AM #5
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Rainmaker
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Mark Watterson

Utah Real Estate
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