Posted on August 28, 2014 - 02:49 PM
by Paul Herbert
The Greater St. George real estate market cools off in July as the temperatures heat up. For that reason, July is one of the slower months of the year. July 2014 total residential sales were 279 vs. 303 in July 2013. However, the inventory of homes in July increased from 1863 in 2013 to 2141 in 2014. This caused the months of inventory to go from a 6.15 months of inventory supply in 2013 to 7.67 months of inventory supply in 2014. 6.0 months worth of inventory is considered a balanced or stable market supply. An early read on the August sales seem to indicate that August will be slower than July.