Quarterly Real Estate Report
County scorecard
Medians were flat to slightly down everywhere except Utah County (+5.2%). Closed sales fell 8–12% in every county while new listings stayed within 6% of last year, so inventory is building.
| County | Median sold | YoY | Closed sales | YoY | Median DOM Q3 25 → Q3 26 |
New listings | YoY | Months supply Aug 25 → Aug 26 |
|---|---|---|---|---|---|---|---|---|
| Salt Lake | $550,000 | ▼ −0.5% | 3,096 | ▼ −8.0% | 39 → 39 | 4,504 | ▲ +0.8% | 3.6 → 4.0 |
| Utah | $525,930 | ▲ +5.2% | 2,425 | ▼ −11.9% | 40 → 43 | 3,507 | ▼ −5.5% | 4.1 → 4.2 |
| Davis | $525,000 | ▼ −3.0% | 899 | ▼ −10.0% | 34 → 39 | 1,336 | ▼ −1.9% | 3.5 → 3.9 |
| Weber | $442,488 | ▼ −0.7% | 866 | ▼ −8.8% | 41 → 45 | 1,348 | ▲ +0.4% | 4.2 → 4.5 |
| Statewide | $522,500 | ▲ +1.1% | 9,947 | ▼ −9.0% | 41 → 44 | 15,141 | ▼ −0.9% | 4.5 → 4.6 |
Source: UtahRealEstate.com (WFRMLS) RapidStats Quarterly Comparison, residential, medians · pulled Oct 1, 2026 · Months supply: Utah Association of REALTORS® / ShowingTime, August month-end, all residential
Prices
Salt Lake, Davis and Weber medians moved 3% or less year over year, and Salt Lake slipped 1.8% from its Q2 high. Utah County (+5.2%) is the only clear gainer and now edges past Davis.
Median sold price, Q3 vs. Q3
Eleven-quarter trend
Source: UtahRealEstate.com (WFRMLS) RapidStats Quarterly Comparison, residential, medians · pulled Oct 1, 2026
Volume
The four counties closed 7,286 homes, 9.7% fewer than Q3 2025 and the lowest Q3 in this three-year series. New listings dipped only 1.7%. Supply is keeping pace, but buyers aren't.
Four-county closed sales vs. new listings, by quarter
Source: UtahRealEstate.com (WFRMLS) RapidStats Quarterly Comparison, residential, medians · pulled Oct 1, 2026 · Four-county figures are sums of the county counts
Speed and supply
Homes are selling slower than a year ago in three of four counties, and nine days slower than Q2 in Salt Lake County. Supply is up but still under the roughly six months that marks a balanced market.
Median days on market
Months of supply
Source: UtahRealEstate.com (WFRMLS) RapidStats Quarterly Comparison, residential, medians · pulled Oct 1, 2026 (DOM) · Months supply: UAR / ShowingTime Local Market Updates, August 2025 and August 2026 month-end, current as of Sep 10, 2026. Six months is a common rule of thumb, not an official threshold
Mortgage rates and payments
The 30-year fixed rose from 6.49% at the end of Q2 to 7.03% on Sep 24, then 7.28% on Oct 1. The Fed raised its target range to 3.75–4.00% on Sep 16. A buyer at the Salt Lake County median now pays about $239 more per month than a year ago.
30-year fixed, last weekly reading each month
Monthly principal and interest on the SL Co. median
| Week | 30-yr rate | P&I / mo | vs. year ago |
|---|---|---|---|
| Year ago · Sep 25, 2025 | 6.30% | $3,064 | — |
| End of Q2 · Jun 25, 2026 | 6.49% | $3,125 | +$62 |
| End of Q3 · Sep 24, 2026 | 7.03% | $3,303 | +$239 |
| Today · Oct 1, 2026 | 7.28% | $3,387 | +$323 |
Rates: Freddie Mac PMMS weekly survey (freddiemac.com/pmms), pulled Oct 1, 2026; chart points are the last weekly reading in each month, not monthly averages · Fed: Federal Reserve FOMC statement, Sep 16, 2026
New construction
Utah permits are down 5.9% year to date. The drop is concentrated in Provo–Orem (−24%) while the Salt Lake metro is up 2.3%. Builder confidence fell to 32 in September, and 38% of builders are cutting prices, so new-construction buyers have room to negotiate.
Utah housing units authorized
| Metro (Census CBSA) | Jan–Aug 25 | Jan–Aug 26 | YoY |
|---|---|---|---|
| Salt Lake City–Murray | 4,462 | 4,563 | ▲ +2.3% |
| Provo–Orem–Lehi | 4,916 | 3,725 | ▼ −24.2% |
| Ogden | 2,342 | 2,140 | ▼ −8.6% |
| Utah statewide | 17,136 | 16,128 | ▼ −5.9% |
Builder sentiment, national HMI
| Builder signal | Latest | Prior |
|---|---|---|
| NAHB/Wells Fargo HMI (national) | 32 · Sep 26 | 37 · Oct 25 |
| West region HMI (3-mo avg) | 28 · Sep 26 | — |
| Builders cutting prices | 38% · Sep | 35% · Aug |
| Average price cut | 6% · Sep | 6% · Aug |
| Builders using incentives | 66% · Sep | 63% · Aug |
| New-home supply (U.S.) | 8.5 mo · Aug | — |
Permits: U.S. Census Bureau Building Permits Survey, unadjusted units; Jan–Aug is the latest available (September releases Oct 27, 2026) · HMI and builder signals: NAHB/Wells Fargo Housing Market Index, Sep 2026 · New-home supply: Census New Residential Sales, Aug 2026 · pulled Oct 1, 2026
Population and growth
Utah County added nearly twice as many residents as Salt Lake County last year, on a much smaller base. Long-term demand still points south. Gardner projects Utah County at about 882,000 by 2030.
| County | Population · Jul 1, 2025 | 1-yr change | Growth rate | 2030 projection |
|---|---|---|---|---|
| Salt Lake | 1,240,937 | +8,281 | 0.67% | 1,280,611 |
| Utah | 765,515 | +15,914 | 2.12% | 882,276 |
| Davis | 381,339 | +2,769 | 0.73% | 394,587 |
| Weber | 272,929 | +1,551 | 0.57% | 281,298 |
| Utah statewide | 3,551,150 | +44,351 | 1.26% · 43% from net migration | — |
Kem C. Gardner Policy Institute / Utah Population Committee estimates (Dec 2025) and Utah 2065 baseline projections (Vintage 2025) · Utah Dept. of Workforce Services, Aug 2026 · Gardner, State of the State's Housing Market 2025–2026 (Sep 2026) · pulled Oct 1, 2026
Rentals
Rents are flat to up 2% across the four counties. Salt Lake metro apartment vacancy improved from 11.2% to 9.5% but is still above the national rate. Owners should price renewals to keep tenants, not to push rent.
Typical rent (Zillow ZORI), August 2026
| County | ZORI | YoY |
|---|---|---|
| Salt Lake | $1,642 | ▲ +0.5% |
| Utah | $1,793 | ▲ +1.9% |
| Davis | $1,759 | ▲ +1.4% |
| Weber | $1,472 | ▲ +0.5% |
Rental vacancy
Zillow Observed Rent Index, county series, Aug 2026 month-end · Cushman & Wakefield U.S. Multifamily MarketBeat Q2 2026 · U.S. Census Bureau Housing Vacancy Survey Q2 2026 · pulled Oct 1, 2026
Policy and key dates
Starting Oct 1, larger Utah cities must allow a detached ADU on single-family lots of 11,000+ sq ft. Property-tax bills arrive in late October and are due Nov 30.
| Date | What changes | Who it affects |
|---|---|---|
| Oct 1, 2026 | SB 284: specified cities must permit a detached ADU on single-family lots of 11,000 sq ft or more | Owners, builders, investors |
| Oct 17, 2026 | Weber County property-tax notices mailed (scheduled) | Weber owners |
| ~3rd week Oct | Utah County tax notices mailed (approximate) | Utah County owners |
| By Nov 1, 2026 | Salt Lake County tax notices mailed | Salt Lake owners |
| Nov 30, 2026 | 2026 property taxes due without penalty | All owners |
| Jan 1, 2027 | HB 377: property-manager license requirement takes effect | Landlords, managers |
| Jan 1, 2027 | SB 238: listed property-tax and residential-exemption sections take effect | All owners |
| All of 2026 | Conforming loan limit $832,750 (one unit) in all four counties | Buyers |
| Ongoing | Utah First-Time Homebuyer Assistance: up to $20,000, 0% interest, new construction up to $450,000, while funds last | First-time buyers |
Utah Legislature, enrolled SB 284, HB 377, SB 238 (le.utah.gov) · Weber, Utah and Salt Lake County treasurer calendars · FHFA 2026 conforming loan limits · Utah Housing Corporation program FAQ (updated Jul 16, 2026; confirm funds remain) · pulled Oct 1, 2026
Outlook
Fannie Mae and MBA both expected about 6.8% for Q4 2026, but they set those forecasts before the late-September jump. Rates are already about 0.5 points above that path. Expect slower sales and flat prices through winter.
| Indicator | Q4 2026 | Q4 2027 | Source · date |
|---|---|---|---|
| 30-yr fixed rate (quarterly avg) | 6.8% | 6.7% | Fannie Mae ESR · Sep 11, 2026 |
| 30-yr fixed rate (quarterly avg) | 6.8% | 6.7% | MBA · Sep 16, 2026 |
| U.S. home-price growth, YoY (Fannie HPI) | 2.3% | 1.0% | Fannie Mae ESR · Sep 11, 2026 |
| U.S. existing-home sales (SAAR) | 4.07M | 4.30M | Fannie Mae ESR · Sep 11, 2026 |
| Actual 30-yr rate, for comparison | 7.28% on Oct 1, 2026 | Freddie Mac PMMS | |
Fannie Mae Economic & Strategic Research Housing Forecast (Sep 2026; rate forecasts based on rates as of Aug 31) · MBA Mortgage Finance Forecast (Sep 2026)
What to do now
Leverage moved toward buyers this quarter. Sellers compete on price and condition. Builders' incentives are worth more than ever, and landlords should protect occupancy.
Buying
- Negotiate: concessions and rate buydowns are back
- Lock early; rates rose half a point last quarter
- Target listings past 45 days on market
- Get fully underwritten before you shop
Selling
- Price to the last 90 days of sales, not the spring
- Expect about 40 days on market; plan the move around it
- Fix condition items before listing
- Offer a buydown rather than cutting price
Building
- Builders are cutting prices and adding incentives
- Stack incentives with the $20K first-time buyer program
- Study ADUs on 11,000+ sq ft lots
- Start permits now for spring delivery
Renting out
- Rents are flat; price renewals to keep tenants
- Check your tax notice and budget for the Nov 30 bill
- Confirm your manager is licensed by Jan 1
- Weigh an ADU for added income
Methodology and sources
MLS figures are WFRMLS RapidStats Quarterly Comparison reports for all residential property types, one report per county plus statewide, with each report's search criteria verified (pulled Oct 1, 2026). Q3 2026 closed Sep 30, so late-September closings may still post and shift counts slightly. Prices and days on market are medians. Four-county sales are sums of county counts. Months of supply and the UAR figures are August month-end snapshots, the latest published. September permits, NAR sales and Q3 rental reports were not yet released at pull, so the latest available period is labeled throughout. No monthly figures were combined into quarterly totals. Cross-check: UAR's Q2 2026 Salt Lake County median ($560,000) matches the MLS pull exactly.
- UtahRealEstate.com RapidStats — Quarterly Comparison (member access)
- UAR / ShowingTime Local Market Updates, Aug 2026 (also Utah, Davis, Weber)
- UAR Quarterly Indicators, Q2 2026
- Freddie Mac Primary Mortgage Market Survey
- Federal Reserve FOMC statement, Sep 16, 2026
- Fannie Mae ESR Housing Forecast, Sep 2026
- MBA Mortgage Finance Forecast, Sep 2026
- U.S. Census Bureau Building Permits Survey
- NAHB/Wells Fargo Housing Market Index
- Census New Residential Sales, Aug 2026
- Kem C. Gardner Policy Institute — population estimates
- Gardner — Utah 2065 projections
- Gardner — State of the State's Housing Market, Sep 2026
- Utah DWS employment summary, Aug 2026
- Zillow Research — ZORI
- Cushman & Wakefield U.S. Multifamily MarketBeat, Q2 2026
- Census Housing Vacancy Survey, Q2 2026
- Utah Legislature — SB 284 (2026) · HB 377 · SB 238
- FHFA 2026 conforming loan limits
- Utah Housing Corp. — First-Time Homebuyer Assistance FAQ
- Weber County Treasurer — important dates · Utah County Treasurer
All figures pulled Oct 1, 2026. Information is believed reliable but not guaranteed; verify before making financial decisions.