Sales volume is continuing its slow march upward this season. For May, Weber County is down 25% YoY while Davis County is down 20%.
Just more pressure on the unnaturally large population of Realtors out there trying to make ends meet.
Trendline volume is back to 2002-2003 levels. The market is over-correcting at this point.
An interesting point is that, for a while, tightened lending guidelines created pent up demand as people who wanted homes were forced instead to rent. That pent up demand is now eroding somewhat as jobs are lost and people who were forced to rent are now forced into their parent's basement.