A rush to take advantage of a federal incentive worth as much as $8,000 pushed single-family home sales in Salt Lake County up by more than 10 percent in the second quarter over the same period last year, according to data released Thursday by the Salt Lake Board of Realtors.
But even free money from the federal government couldn’t stop tumbling home prices. The median selling price of Salt Lake County homes — not including condos — sold in April-May-June was down nearly 8 percent to $219,900. The same pattern of higher home sales, but lower prices, played out in the other Wasatch Front counties as well.
And once most of the people getting the tax credit closed on their homes, June sales along the Wasatch Front slumped. The Salt Lake Tribune
Note: The Utah Association of Realtors publishes market reports for various areas across the state at: http://www.utahrealtors.com/quarterly/mktrpts.htm
