SLC housing market makes steady comeback

by Jeff Reynolds on

SALT LAKE CITY – The National Association of Realtors show recent numbers of the housing marking making a steady comeback. However, median home prices in Salt Lake fell more than 11 percent making it the ninth largest decline nationwide. “We’re seeing the demand really pick up where for a couple of months we were seeing our home sales dropping every month,” Dave Anderton said.

It is good news for home buyers but those who are planning to sell are dealing with the lowest prices for homes in the country. “Home prices in the Salt Lake metro area are falling. A number of areas across the nation are showing price increases, it’s to be expected. Salt Lake was slow to see their home prices peak and we’re still seeing home prices still fall,” Anderton said.

Economists at the University of Utah and The Board are watching the numbers and have dire prediction for homes going on the market this year. A recent report by the National Associate of Realtors found that many cities that had the highest foreclosures rate a year ago, now have the biggest price increases.

FOX 13’s Dan Evans reports.

Maile Tua’one FOX 13

10:58 PM MDT, May 15, 2010

See the full story on FOX 13 website

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