📊 Utah Housing Market Update 2024–2025
If you’ve been wondering where the Utah market is headed, the latest housing report gives us some important clues:
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Utah now ranks as the 9th most expensive housing market in the country. The typical single-family home came in around $547,700 at the end of 2024.
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Affordability is still the biggest challenge. In counties like Salt Lake and Washington, housing is now considered severely unaffordable, while Utah, Weber, and Davis counties aren’t far behind.
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New construction slowed to the lowest level since 2016, especially for apartments.
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The bright spot? More homes are hitting the market again. Listings have returned to pre-COVID levels, and sales increased 7% last year, with nearly one out of five homes selling for cash.
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Looking ahead, 2025 is expected to bring steady but modest growth, with approximately 23,000 new homes built, nearly 37,000 sales, and prices increasing by around 2%.
