New Numbers Show Record 27% Increase In Utah Housing Prices
According to data from UtahRealEstate.com, prices for houses in Utah are continuing to soar across the state, shattering old records and making it even more difficult for buyers to find a home.The data says the statewide median sold price for all housing types in April was $426,250, an increase of 26.9 percent from last April. For single-family detached homes, the median sold price was $471,000, an increase of nearly 30 percent.
Senior research fellow with the Kem C. Gardner Policy Institute Dejan Eskic said he “had to do a double take” to make sure he didn’t make a mistake, according to KUTV. Eskic expects home prices to keep going up and he said increasing the housing supply in Utah is crucial.