Utah Housing Market
Home prices in Utah were up 3.7% year-over-year in May. At the same time, the number of homes sold rose 1.2% and the number of homes for sale rose 9.8%.
Home prices in Utah were up 3.7% year-over-year in May. At the same time, the number of homes sold rose 1.2% and the number of homes for sale rose 9.8%.
What is the housing market like right now?
The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $545,900.
How competitive is the market?
Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above list price indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive.