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  • Axios Salt Lake City

    Salt Lake home prices are rising again

    By Erin Alberty,

    23 hours ago

    Data: Redfin. Chart: Axios Visuals

    Home prices in the Salt Lake metro area rose steadily this spring after the market seemingly cooled a bit last year.

    Why it matters: Summer is the most fruitful home-selling season , so we're checking out where the market stands.


    By the numbers: The median price as of May was $534,900, up from $530,500.

    What's next: Elevated mortgage rates , which are dampening the appeal and affordability of home buying, could remain high for longer.

    Zoom in: The high mortgage rates are especially significant in Utah, where existing homeowners enjoy unusually low mortgage rates , disincentivizing them to sell.

    • That likely adds pressure to Salt Lake's already-strapped housing supply.
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