Salt Lake County home prices have risen for first time in five years, the Salt Lake Board of Realtors said Thursday.
The single-family median price was $214,900 in the second quarter, up 6 percent from $203,000 in the same period in 2011, the Realtors group said in releasing its quarterly statistics. The last time area home prices increased was in the second quarter of 2007, just as the real estate bubble was about to pop, when the median home price reached a peak of $256,000.
"Many homebuyers don’t realize that over the past six months the housing market has shifted to more of a seller’s market," Donna Pozzuoli, president of the Salt Lake Board of Realtors, said in a statement. "Many sellers are witnessing multiple offers and in some cases offers are coming in above asking prices."
The Salt lake Tribune
7/27/2012
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