Quarterly Real Estate Report
+2.3% year over year
during the quarter
slower in 3 of 4 counties
still a seller’s market
vs Q2 2025
is short today
Four counties at a glance
Prices up everywhere, volume mixed, homes taking longer to sell. Utah County led on price, Salt Lake on activity, Weber slowed the most.
| County | Median price | YoY | Sales | YoY | Days on market | Supply | Inventory YoY |
|---|---|---|---|---|---|---|---|
| Salt Lake | $560,000 | ▲ +2.3% | 3,579 | ▲ +3.8% | 30 → 33 | 3.8 mo | ▲ +5.1% |
| Utah | $526,400 | ▲ +4.3% | 2,717 | ▼ -1.0% | 41 → 39 | 4.0 mo | ▼ -1.3% |
| Davis | $534,000 | ▲ +1.7% | 990 | ▼ -6.3% | 34 → 36 | 3.7 mo | ▲ +10.5% |
| Weber | $442,990 | ▲ +0.2% | 975 | ▼ -1.4% | 41 → 49 | 4.3 mo | ▲ +3.2% |
What sold, and for how much
Every county posted a higher median than a year ago — from a rounding error in Weber to a solid gain in Utah County. This is a slow-appreciation market, not a boom.
Buyers finally have time
Homes sat longer in three of four counties and inventory rose in three. Weber added eight days. Supply is still under five months, so sellers keep the edge — just a narrower one.
Rates drifted, then climbed
The 30-year fixed averaged 6.41% and never dropped below 6.23%. By late August it was 6.65%. Neither major forecast sees a return to 5% money through 2027.
| Rate | Principal & interest |
|---|---|
| 6.23% (quarter low) | $2,753 |
| 6.41% (quarter average) | $2,805 |
| 6.65% (late August) | $2,876 |
| 5.50% (if rates fell) | $2,544 |
| Forecast | Rate, late 2026 | Rate, 2027 | Price growth, 2027 |
|---|---|---|---|
| Fannie Mae | 6.8% | 6.7–6.8% | +1.0% |
| Mortgage Bankers Assn. | 6.5% | 6.5% | +0.6% |
More people, fewer permits
Utah added 44,351 residents and cut homebuilding by 9.4%. Multifamily permits fell nearly a quarter. That is the arithmetic behind tight supply in 2027 and 2028.
Builders are negotiating
Confidence sits at 35 and nearly half of Western builders cut prices. If you are buying new, this is the strongest leverage window in years.
| Builder signal, Q2 2026 | Reading |
|---|---|
| Builder confidence index | 35 below 50 = poor |
| Builders cutting prices | 35%, averaging 6% |
| Builders using incentives | 62% |
| Price cuts in the West | 48% — highest region |
| Construction input costs | +6.2% year over year |
| Median lot price, Mountain region | $95,000 |
Soft rents, and that cuts both ways
A wave of new apartments pushed effective rents down 1.6%. Good news for renters. Harder on owners in Salt Lake County, where one in thirteen units sits empty.
| Rental metric | Salt Lake metro | Provo–Orem |
|---|---|---|
| Typical asking rent, June 2026 | $1,645 | $1,819 |
| Change vs a year ago | +0.58% | +2.24% |
| Price-to-rent ratio | 28.7× | 24.9× |
Four dates worth knowing
The ADU mandate is the one most likely to affect your property directly. From October, qualifying cities must allow a detached rental unit on single-family lots.
| Effective | Change | Who it touches |
|---|---|---|
| May 6, 2026 | HB 492 — $100M housing infrastructure fund | Builders, buyers of new homes |
| Jul 1, 2026 | HB 68 — new Division of Housing & Community Development | Everyone, indirectly |
| Oct 1, 2026 | SB 284 — cities of 5,000+ must permit detached ADUs | Homeowners, landlords |
| Jan 1, 2027 | HB 377 — property manager licensing applies | Anyone managing others’ rentals |
First-time buyer, building new? Utah Housing Corporation offers up to $20,000 in assistance for eligible first-time buyers of new construction, generally under a $450,000 price cap.
What to do about it
The data above, turned into four decisions.
If you are buying
- You have negotiating room for the first time in years.
- Weber is the softest market — 49 days to sell.
- Do not wait for 5% rates. No major forecast has them before 2028.
If you are selling
- Price to the last 30 days, not to last spring.
- Expect 33–49 days, and more in Weber.
- Builders are your competition — 62% are offering incentives.
If you are building
- Ask for a rate buy-down plus upgrades, separately.
- Check the $20,000 UHC program if you qualify.
- Budget for cost, not price — inputs up 6.2%.
If you own rentals
- Salt Lake: defend occupancy. An empty unit costs more than a rent cut.
- Davis and Weber have room — 4.6% vacancy.
- Licensing hits January 2027 if you manage for others.
Where these numbers came from
County medians, closed sales and inventory: Utah Association of REALTORS® quarterly county reports, all residential property types · Salt Lake County detail cross-checked against UtahRealEstate.com MLS RapidStats Quarterly Comparison (median $560,000 matched exactly) · Days on market: Redfin · Mortgage rates: Freddie Mac Primary Mortgage Market Survey · Forecasts: Fannie Mae (August 2026), Mortgage Bankers Association (July 22, 2026) · Building permits: U.S. Census Bureau Building Permits Survey · Builder sentiment and costs: NAHB/Wells Fargo Housing Market Index · Population: Kem C. Gardner Policy Institute, University of Utah · Rents and vacancy: Zillow Observed Rent Index, MMG Real Estate Advisors · Legislation: Utah State Legislature, 2026 general session.
Notes. Quarterly figures are true April–June aggregates; months of supply, inventory and rent figures are June 2026 month-end snapshots. Payment figures are Sightline Realty calculations, principal and interest only. Data pulled August 26, 2026 — housing statistics move monthly, so treat anything here as stale after 30 days.
Cameron White · Sightline Realty
Residential sales, new construction, and property management across the Wasatch Front. In real estate since 2002. CRO certified, University of Chicago Booth School of Business.
801-232-7145 · cameron@sightlinerealty.com · sightlinerealty.com
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