“The consensus amongst our members is that the market has bottomed out,” says Mehl.
“We’re not going to see any significant growth in prices for a while but we’ve seen a huge increase in activity in 2010 and it’s been very encouraging for months. Most auctioneers are looking at the levels of activity in the marketplace and that will be a good indication of where the market is going. Last year, there was very little activity but we’re taking great encouragement from the increase because we’re now in our third very difficult year. Auctioneers might have 20 people viewing a house and at the end of the week there might not be a sale, but at least you know that people have it in their mind that they want to buy and it gives an idea of the pent up demand.”