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Salt Lake among cities with biggest housing price drops

Published: Wednesday, May 23 2012 7:08 a.m. MDT

Salt Lake's home prices expected to drop in 2012, but rise in 2013 Next » 1 of 29 « Prev
Scott G. Winterton, Deseret News
The change in home prices in Salt Lake was 4.9 percentage points below the national average between 2008 and 2011. The city lagged behind the national average slightly in 2011 as the U.S. posted a 4.0 percent drop.

Provo and Orem are expected to fall .5 percent in 2012, but is expected to rise 5.2 percent in 2013. Home prices in the area dropped 18.2 percent from 2008 to 2011.

St. George will experience a 5.7 percent fall in 2012, making it the biggest expected drop in the state, according to the survey.

The Detroit-Livonia-Dearborn, Mich. Metropolitan area is expected to fall the furthest in 2012 with a projected decrease of 12.2 percent. The area also saw the biggest rebound in home prices last year, dropping 9.6 percent since the last quarter of 2010.
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Capsaicin
Salt Lake City, UT

Housing prices are still over-priced. The average size of a home is still too large. Loans are still too expensive. Loans are still too accessible. And people shouldn't even be allowed to buy a home unless they have over 20% down.

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