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.