KEY TAKEAWAYS

Utah's median home prices remain high despite dropping mortgage rates.

Housing analyst Dejan Eskic attributes the stable prices to a lack of forced selling situations.

Decreasing mortgage rates still offer refinancing opportunities and optimism for prospective buyers.

SALT LAKE CITY — Utah homebuyers are grappling with prices that refuse to fall.

According to the latest data from the Kem C. Gardner Policy Institute at the University of Utah, the median sales price for all housing types in Utah — which includes single-family homes, townhomes and condos — is $520,000.

Yet, the state's housing market has slowed down amid higher mortgage rates, and there are more sellers than buyers.

If that's the case, why haven't prices dropped?

'Kind of annoying'

Home prices in Utah h

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