“We hit the trough in January of 2012,” said Cal Musselman, president of the Utah Association of Realtors. “We’ve had eight months in a row of increased equity.”
He also noted that sales have increased for 18 consecutive months in Utah, signaling growing stability in the state’s housing market. Currently, the market has an estimated 5.7 months of available inventory for sale — another indicator of market strength.
Six months of inventory is considered “the definitive line between a buyers’ market and a sellers’ market,” Musselman explained.
He said conditions are currently very favorable for a significant improvement in the area housing market.
“We think we’ll see more people entering the market,” he said.
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