SALT LAKE CITY — The Salt Lake City metro area continues to be among the top housing markets in the U.S. to see the most dramatic yearly declines in home sales since high-interest rates chilled the market.RE/MAX's May National Housing Market Report
While home sales are still down 18.7% from last May, "solid demand amid tight inventory" is helping push home prices up slightly. Though the national median sales price is still down 1.9% from May 2022, it ticked up by 3.2% month over month to $423,000 this May, according to RE/MAX. That's up from the 2022 fall slowdown, when the median price was $399,000 in October, after three straight months of price declines.
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