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Spanish Fork, Utah; Current Market Conditions
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.  
 
This is NOT a good time for those with low and/or no risk tolerance to purchase. 
A strong case can be made that those who are looking for a home for their family with plans to stay long term.  Why not buy now?  Especially if the numbers make sense, i.e. Owning vs. Renting.  Even, if the market retracts more (which is extremely likely) in the future.  Between the coming market bounce and future normal cycle of appreciation, buying now might make sense.  Why not make an informed buying or waiting decision? 
High and medium risk tolerant buyers are making buying decisions many are investors doing some bottom fishing looking for properties priced at wholesale.
Those waiting for a market bottom confirmation will (almost always) miss the bottom.  This is because confirming factors are lagging indicators. Thus making it extremely (if not impossible) difficult ... more

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