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

We still are having a low percent of new listings being SOLD.  Currently (25.45)% 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

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

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