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 » 2 of 29 « Prev
Matt Gillis, Deseret News
The Phoenix-Mesa-Glendale, Ariz. metropolitan area isn’t far behind with an expected 11.1 percent drop in 2012.

Increased demand and home building will bring price declines to a halt in 2013, according to the home price study. Salt Lake home prices are expected to rise by 9.5 percent in the coming year.

"We expect that home prices, which generally lag changes in sales activity by nine to 12 months, will stabilize by the end of this summer and then rise at an annualized rate of 3.9 percent over the next five years," Stiff said in a statement.

The study tracked home price trends in more than 380 U.S. Markets based on the Fiserv Case-Shiller Indexes.

The next few slides will show the top 25 cities that are expected to have the biggest drops in 2012.
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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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