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Utah Housing Prices Hit Record High Again

According to brand new data that was just released, Utah’s housing market has reached record-breaking levels— again.The data comes from UtahRealEstate.com and it was analyzed by the Kem C. Gardner Policy Institute. It shows the statewide median price for all housing types reached $437,000 in May, up 30% from a year ago. In just one year, the average housing price increased by $102,000.

 

According to a report from KUTV, Dejan Eskic, a senior research fellow with the Kem C. Gardener Policy Institute, said inventory was up in May. He said that’s a very good sign because “buyers are having more choices.” He added the only thing that can shift prices are interest rates.

Tyler Hewitt is the web/social media assistant at UPR. He writes stories every day, updates the website and manages the station's Twitter and Facebook pages. Tyler is a senior at Utah State University and is studying public relations, marketing, and psychology. He loves to write, listen to music, play video games, play tennis and hang out with his fiancé and cat, Juno. He is a great plant dad and recently started collecting vinyl records!