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Home values appreciating more slowly

Home values appreciating more slowly

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SALT LAKE CITY (AP) -- Utah's homes are appreciating at a slower rate.

The Office of Federal Housing Enterprise Oversight says homes in the state appreciated by just 1.9 percent in the year ending in June. That's down from 5.6 percent from the agency's report from last year and several years of double-digit increases.

Utah spent five consecutive quarters as the top state in the nation when it came to home appreciation. It peaked at 17 percent in the year that ended June 2007.

Utah is now ranked No. 16 in the country.

Information from: The Salt Lake Tribune

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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