Utah Realtors: January home sales up for 8th month

AP News
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Posted: Mar 07, 2012 12:24 PM
Utah Realtors: January home sales up for 8th month

Utah home sales jumped for the eighth month in a row January, up more than 6 percent compared with a year ago.

The report released Wednesday by the Utah Association of Realtors shows members sold 1,985 homes in January, up 120 over the same time last year and marking the best January in five years.

Salt Lake, Uintah and Davis counties saw the biggest gains in sales.

Realtors also say the state's home inventory is on the decline, which will help stabilize home prices. About 20,000 homes were listed for sale in January, down about 24 percent year-over-year.

The median price in January was $166,000, down about 7 percent from the year earlier.