The latest local home sales data shows today's high interest rates are continuing to dampen sales of all housing types across the Wasatch Front, from single-family homes to condos and townhomes.
In Utah's most populated county, Salt Lake County, the median price of single-family homes flatlined from May to June at $600,000 — but that's 12% up from when single-family home prices bottomed in January at $535,700. "The higher interest rates have led to a decline in home sales, with only 1,072 housing units sold in June, a 26% decrease compared to June 2022," said Dave Anderton, spokesman for the Salt Lake Board of Realtors. "Since the Federal Reserve started raising rates, home sales have been decreasing by approximately 400 units per month."