07/24/08

SALT LAKE CITY (AP) _ Home sales along the Wasatch Front are
down steeply but sales prices in many places have yet to follow.

The Salt Lake Board of Realtors says home sales in the second
quarter dropped 28 percent compared to the second quarter of 2007.

In Salt Lake County, the median price for a home fell about 1.6
percent and in Davis County it was 1.75 percent.

Utah and Weber counties saw median prices dip around 4 percent.

Wells Fargo economist Kelly Matthews says that while home prices
haven't decreased as quickly as expected, it's still possible they
haven't bottomed out yet.

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