Sales for single-family homes dipped 5 percent during the second quarter as housing prices rose, the Utah Association of Realtors reported.
Utah Realtors president George Richards said only four of the 14 local boards reported increased home sales, while all markets reported increased mortgage prices."Although home sales remain sluggish from 1994's higher mortgage rates, figures should rebound slightly during the next quarter," he said. "Mortgage rates began decreasing during the first and second quarters. We expect that trend to continue through the summer, increasing Utah's overall home sales during that period."
Nationally, the real estate market picture was brighter: the National Association of Realtors reported existing home sales up 6.5 percent in June.
In northern Utah, the Brigham-Tremonton Board of Realtors reported a 27.6 percent decrease in sales for the second quarter from the same time last year. The average sales price was $82,929, up nearly 12 percent.
The Cache-Rich district noted a 5.6 percent decrease in home sales at an average price of $108,380, up 5.1 percent; the Tooele County board reported a 29.5 percent decrease, with an average price of $90,696, up 27 percent.
The Greater Ogden Area Association of Realtors had a 1.2 percent growth in second-quarter home sales, with the average price of $107,862, up nearly 20 percent.
In Salt Lake's district recorded a 2.5 percent home sales increase, with the average price $129,354, up nearly 12 percent.
However, the Carbon-Emery Board of Realtors had a 36.1 percent decrease in home sales, with the average price $63,145, up nearly 42 percent.
The Central Utah board saw its sales increase 14.3 percent, with the average price $63,941, virtually unchanged from a year ago.
The Grand-San Juan region, based in Moab, reported a 57.1 percent decrease on homes, averaging $103,125, up 21.1 percent; the Uintah board had a 30.9 percent decrease on homes, selling for $72,009, up nearly 16 percent.
The Utah County Association of Realtors reported a 22.2 percent hike in homes sales, average $124,945, up nearly 4 percent.
In the resort community of Park City, home sales remained steady, with the average price tag $374,800, or 34 percent higher.
Wasatch County had a 51.9 percent decrease in sales, though average home prices increased nearly 19 percent to $151,819.
The Washington County area's realtors reported a 33.4 percent decrease on homes selling for $117,011, up 5.1 percent.
Iron County experienced a 1.8 percent increase in home sales, with the average price $90,186, about the same as a year ago.
Overall, Utah's average home sales price during the quarter was $129,499, compared with the national average price of $135,500.