So with the holidays behind us, and a fresh new year ahead of us what is it the market has been doing?
Slow - that's the first word I'd use. The past 30 days have seen only 142 marked sold - that's a slow market. This county averaged 241 units per month for all of 2013 yet the past 30 days is a hundred below that. Weird - I have a theory.
The larest employer in the area is Hill Air Force Base. In October we experienced a government shut-down that many of the talking heads tried to say - "This doesn't really affect normal people at all". Here in Utah lots of normal people work for the government. Between Hill AFB and the IRS Processing center we have literally thousands affected by everything the government does. We gradually slowed from a fairly normal October, to a slower November and a slower still December and January.
Finally during January it's picking up again. with 202 units under contract in the past 30 day. That's about a 40 percent increase in under contracts from solds.
The raw numbers
1470 Active Listings
334 Active in the past 30 days
202 Under Contract in the past 30 days with 317 total units under contract. Either financing is getting harder to get, or it is simply taking longer to close the deal.
142 Sold in the past 30 days
213 expired in the past 30 days - I didn't dig deep enough to compare how many of these 213 are part of the 334 new active listing.
All in all while we have experience a very slow market the past couple of months it's picking up. That said if the inventory doesn't increase dramatically we'll have a spike in prices even more than we experienced last spring.
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