Utah is No. 4 in the nation in highest house-price appreciation, according to a new federal report. Utah home prices increased 11.31 percent in the second quarter year-over-year. Over the past five years, Utah home prices have increased 46 percent. Nevada had the highest appreciation. North Dakota ranked last.
Salt Lake City Still “Slightly Hot” Market Salt Lake City used to be one of the hottest real estate markets in the country, ranking among the Top 10 best real estate markets. However, in the past several months the city has slipped to No. 116 out of 300 metros in the month of August, according to Realtor.com. Salt Lake is a “slightly hot” market that is “cooling down.” Median days on market is 30.5 days, with inventory moving 6 percent faster than last year and 30.5 days faster than the U.S. overall. Properties in the area receive an average number of views 0.7 times lower than the U.S. average.