One-year change in home prices
Median home price
Change in price since peak
: 1 in every 729 households (0.14%)
With an economy that continued to grow and a low unemployment rate, buyers here don't lack for confidence, but they do lack properties to look at. In the third quarter, the months' supply stood at a mere one month, the lowest of the cities in this list. In a kind of Catch-22, would-be sellers may choose not to list their homes for sale if they think they won't find something to buy.
Like Provo to the south, Salt Lake City largely escaped the boom and bust of the past decade, and home prices didn't have far to go to recover. In the third quarter of 2012, sales of single-family homes in Salt Lake County increased by 12% from the year before. Homes took an average of 81 days to sell, down from 120 the year before -- good news for sellers. The share of distressed sales in the metro area is just 15%, down by more than one-third from last year.
8. Salt Lake City