Salt Lake Board of Realtors May Update

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Real Estate

Despite mortgage interest rates more then doubling over the past year, the median price of a single family home in Salt Lake County has only experienced a 9% annual decline Although prices reached a low of $533,750 in Januray, they have recently begun to rebound. The housing market in Salt Lake County is influenced by Utah's low housing inventory and surging population growth, which continues to put pressure on housing prices. As a result, muliple offers on homes are becoming common once again!