[Figures reflect sales reported by each Board's Multiple Listing Service.]

SALT LAKE CITY -- Single-family home sales in Utah increased slightly during second quarter 1998, according to figures released today by the Utah Association of REALTORS^ (UAR). Statewide, sales rose 5.18 percent compared to second quarter 1997, while home prices rose 11.16 percent over the same quarter last year.

"The economy in Utah remains strong, with interest rates staying low," said Nancy Davis, UAR president. "These two factors have combined to create an excellent buying environment."

Home prices showed healthy growth among the UAR boards. The average price of a single-family home in second quarter 1998 was $164,299, up $16,494 or 11.16 percent from second quarter 1997. A comparison of second quarter 1998 figures with first quarter 1998 shows an increase in the average home price by 2.39 percent. When excluding Park City homes " whose robust average sale prices of $583,617 skews overall quarterly data " second quarter 1998 has an average sale price of $124,122.

"Half of the 14 boards showed an increase in the number of sales, and 13 of the 14 boards showed an increase in average sale price," said Davis. "Overall value is increasing steadily, indicating that real estate continues to be an excellent investment."

In Northern Utah, the Brigham/Tremonton Board of REALTORS reported a 25 percent drop in sales of single-family homes in the second quarter of this year versus second quarter 1997, with an average sales price of $107,618; the Cache/Rich Association of REALTORS in Logan remained unchanged from the same period in 1997, with an average price of $126,616; and the Tooele County Board of REALTORS reported no increase in home sales at an average sale price of $121,630. The Greater Ogden Area Association of REALTORS experienced a 9.69 percent decrease in home sales at an average sale price of $130,576.

The Salt Lake Board experienced a 10.69 percent increase in home sales, from the same period in 1997, at an average sale price of $168,188, and reported a 25.22 percent dip in condominium sales at an average sale price of $114,726.

The Carbon/Emery Board of REALTORS reported a 33.33 percent increase in home sales at an average price of $83,053; the Central Utah Board reported a 10.2 percent increase in home sales during the second quarter of 1998, with an average sale price of $83,158; and the Grand/San Juan Association of REALTORS in Moab reported a substantial 44.44 percent increase in home sales with an average sale price of $134,604.

The Uintah Basin Board of REALTORS experienced a 49.15 percent increase in home sales during the second quarter, versus second quarter 1997, at an average sale price of $79,771. The Utah County Association of REALTORS reported a 0.39 percent increase in home sales from second quarter 1997, with an average sale price of $175,527.

The Park City Board experienced a 17.88 percent decrease in sales of homes at an average sales price of $583,617, and a 15.2 percent increase in condominium sales at an average sales price of $339,900. Wasatch County reported a 37.14 percent decrease in home sales at an average sale price of $152,370.

In Southern Utah, the Washington County Board of REALTORS reported a 7.83 percent increase in home sales during second quarter at an average price of $146,119 and an 18.03 percent decrease in condominium sales at an average price of $119,239. The Iron County Board of REALTORS reported an 18.82 percent decrease in homes sales at an average sale price of $105,656.

The Utah Association of REALTORS serves as "The Voice for Real Estate in Utah," representing more than 7,300 members involved in all aspects of the real estate industry.