Home prices in the Salt Lake City area continue to rise, according to the latest report by a leading real estate analytic firm. Local home prices increased by 5.4 percent in August compared to August of last year, as reported in the CoreLogic Home Price Index (HPI).
When prices for distressed sales are excluded, those prices increased by 6.2 percent month-to-month, according to the report.
Home prices nationwide, including distressed sales, increased 6.4 percent in the same time period. This change represents 30 months of consecutive year-over-year increases in home prices nationally. Utah has seen similar home price increases during the 30-month national appreciation.
Despite the steady rate of increase in home prices, current selling rates are still 8.6 percent below peak prices recorded before the Great Recession. The Enterprise
