Spanish Fork, Utah; Current Market Conditions

By
Real Estate Agent 5660894-PB00

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

 Spanish Fork

  

 

 

 

 

 

 

 

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.  

 Utah

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 to time any market bottom, in combination with the majority of home buyers afraid to purchase at this time.  I believe we will see an un-preceded pent up demand at the market bottom that will cause a bounce in home prices.

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Data considered accurate... However is NOT Guaranteed.  Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date data.

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Topic:
Real Estate General Information
Location:
Utah Utah County Spanish Fork
Tags:
market conditions
utah
provo
market bottom
risk tolerance

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Mark Watterson

Utah Real Estate
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