Utah median home prices up for 1st time in 4 years

Associated Press

SANDY, Utah (AP) — Realtors say Utah's median home prices have risen for the first time in four years, and the number of homes sold is also growing.

Statistics released Friday by the Utah Association of Realtors show the median home price in April was $178,150, which is 2.7 percent higher than the same time a year ago.

It's the first year-over-year median price gain since April 2008.

Association president Lori Chapman says the inventory of homes is going down, and the competition between buyers is pushing prices up.

The number of homes sold rose for the 11th straight month in April, with 3,028 sales. That's a 9.5 percent increase from April 2011.

The strongest sales came for homes in priced under $150,000. The weakest sales came among houses between $300,000 and $750,000.

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