Monday, November 21, 2005

Market Update- Intitial Projections 2006

The market has slowed down here in St. George. It is hard to put a finger on when, but the slow down took place about two months ago and has pervaded up through now. While local realtors ride the up and down fluctuations of the market all the time, this is a more pervasive slowing that marks, at least a "through the winter" trend. The slow down has been quite significant with a rapid increase in inventory. What are our future projections for 2006?

Initial Projection for 2006
While we are in a definite slowing, with an increase of inventory, happily even in the Lot sector, there is no evidence to indicate that we will suffer a declining trend for real estate in St. George. I know it feels like we are declining right now, but the market nation wide is projected to level off or maintain, not back slide. Yet, given recent economic events with the slowing in our local market and the slight rise of interest rates, one could speculate as to a "bursting bubble". Stay tuned as we will explain more thoughts about our predictions of no declining trend or shall we say… no backwards movement projected for 2006.