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SALT LAKE CITY (AP) -- There's more evidence Utah's residential real-estate market is slowing down.
A federal report says Utah home prices fell two-tenths of a percent, on average, since the year started.
Thanks to strong 2007 gains, Utah still had the second-highest appreciation rate among all states on an annual basis.
Home prices statewide were up 5.6 percent in the 12 months that ended March 31. Only Wyoming had faster growth at 6.3 percent.
In the first quarter, the Office of Federal Housing Enterprise Oversight said prices in the Ogden-Clearfield metropolitan area were down 0.3 percent.
Salt Lake City saw a 0.4 percent drop, while St. George prices fell 2 percent.
The Logan and Provo areas saw gains of 0.4 percent and 0.1 percent, respectively.
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Information from: Standard-Examiner
(Copyright 2008 by The Associated Press. All Rights Reserved.)
