Although a sizable majority of U.S. metro areas saw median home prices rise in the first quarter, the median in the Salt Lake City area fell 11.4 percent year-over-year, the ninth-largest decline nationwide.
A report released Tuesday by the National Association of Realtors ( NAR) showed many cities that led the nation in foreclosures a year ago had the biggest price increases .That could have been driven by a federal tax credit of as much as $8,000 that boosted demand in many areas of the country from almost zero and drove the supply of unsold homes to a four-year low by the end of January.The Salt Lake Tribune
