Utah’s Economy: Housing Prices Hit Bottom in 2011

Utah's Economy- Housing Prices Hit Bottom in 2011
Prior to 2008 the average sales price of a home in Salt Lake County rarely declined. Since 1955 prices have dropped only 10 times. Until recently price declines were limited to the 1950s and 1960s, but even in these decades there are no years of consecutive declines; consecutive declines are confined to the 2008-2011 period. Over the past four years the average price of a home sold in Salt Lake County has fallen by 22 percent with the largest single-year decline of 9.6 percent coming in 2011.

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