It is a little early to tell however many indicators are telling us we may in fact be at, or very close to the bottom of the market. Wall Street rallies on news of toxic asset plans which raised over 500 points as result of the National Association of Realtors announcement of sales being up and the announcement of the plan of combined government and private investors to purchase toxic assets from the banks.

According to the National Association of Realtors sales rose by over 5% in February and prices rose by more than 1.5%. See the full article on existing home sales rise in February

According to the Washington County Multiple Listing Service single family home sales for Washington County were up by 38% and prices had adjusted down by 4.8%.  We are seeing multiple offers on much of the inventory below $250,000.  Our top real estate agent sales team now have nearly half of their more than 20 listings under contract with multiple offers on all of them.

Interest rates remain extremely low and buying opportunities abound.  Now is a great time to seriously look at the St. George real estate market for personal and investment properties.