Utah housing prices fall faster than national average

The Federal Housing Finance Agency reported Tuesday that home prices slid nationwide in the first quarter of 2010, and Utah home prices were in even worse shape than the vast majority of the national housing stock.

Utah home prices in the first quarter of 2010 were down 8.9 percent compared with the same time period of 2009 and were down 3.3 percent from the final quarter of 2009, according to the federal agency.

Utah ranked 47th among states for price appreciation, ahead of only Michigan, Idaho, Nevada and Arizona.

Nationwide, home prices fell 3.1 percent from the first quarter of 2009 to the first quarter of 2010. The Deseret News