Realtors see ray of hope among dismal housing market

Home sales have hit a record low, but Utah Realtors say there is a ray of hope for the local market. Realtors But it's still a buyers' market, and many sellers are finding they have to put up some bargain prices to get their homes sold. Related:Lenders struggle to keep up with refinancing applicationsHistoric low interest rates are driving would-be borrowers in droves to seek a refinance on their homes. And lenders are struggling to keep up creating both opportunity and potential pitfalls. Also a short sale, she put her home up for a bargain price and got a buyer in just a few days. While sale prices are still low, the increase in activity means there are signs that our local market is on the gradual road to recovery. The median price for homes sold is down about 10 percent from last year. You're buying high and selling high, or you're in a market where you're gonna sell lower and you're gonna buy lower," she said. Overall, realtors say since prices didn't get as inflated as they were in other parts of the country, things are improving faster. Still, it's a buyers' market out there, as the conditions very slowly improve for sellers. Carolina law-->Utah family's tragedy inspires change in N.