Utah home prices still on the rise in June

Aug 7 2012 - 11:30am

SALT LAKE CITY  -- Utah home prices are up for the third month in a row as the inventory of houses reaches a low not seen since 2007. 

The Utah Association of Realtors says Tuesday that the median home price in June was $182,000, up from $177,000 a year earlier.

There were 3,348 homes, condos, and townhomes sold in June, which is up 1 percent compared with the same month last year. Meanwhile, the number of homes on the market is down 24 percent from June 2011.

Association president Lori Chapman says conditions are improving for sellers, and more people who gave up on selling their properties have put them back up for sale.

She says low interest rates are also keeping homes affordable.

 

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