LEHI, Utah – With the price of lumber skyrocketing, real estate experts are warning homebuyers to pay
Home sales on the Wasatch Front reached historic highs in 2020 as low interest rates spurred heavy buying that wiped away an early pandemic slowdown and lifted prices to new peaks.
Sales of single-family houses, condominiums, town homes and duplexes in Salt Lake County topped 19,125 last year, up from 18,125 in 2019. That 2020 volume beats the region’s previous sales high of 18,808 set in 2005, when a U.S. housing bubble was building.
“Hectic is a good word,” said Alicia Holdaway, a Draper-based real estate agent and former president of the Salt Lake Board of Realtors. “Buyers are getting more and more desperate.”
The median home price on a single-family home in Utah’s most populous county is at a record $425,000, up 12% from 2019, according to new data released Wednesday.
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