February is always a fascinating month in real estate. The holiday slowdown is behind us, tax season is top of mind, and buyers who've been sitting on the sidelines all winter are starting to feel the pull of spring. This month's market update is a deep dive into exactly where Utah County stands — the inventory shifts, the economic forces driving demand, and what all of it means for you whether you're buying, selling, or simply watching and waiting.

Let's get into it.

Utah County currently has approximately 2,470 active listings — up 417 from this time last year. That sounds like a lot of new inventory, and in one sense it is. But here's the nuance that matters: active single-family homes actually dropped to around 1,640 — down 344 from last year. Meanwhile, under-contract properties are holding steady at roughly 958, which tells us that well-priced, well-presented homes are still moving.

Statewide, the average Utah home value sits at $535,217, up 1.4% year over year. Days on market have ticked up — we're seeing homes sit a bit longer than during the frenzy years — but that's not a sign of distress. It's a sign of a market finding its footing after several years of historic volatility.

Mortgage rates have pulled back from their 2025 peak and are now edging toward the lower 6% range, which is meaningfully better than where we were. That improvement matters for buyer purchasing power, and we're already seeing renewed interest from buyers who paused their searches when rates were at their worst.

Here's what I want every buyer and seller in south Utah County to understand: we are not a typical market, and the national headlines don't tell our story.

Utah holds the 4th highest annual employment growth in the country at 1.9%, compared to the national average of just 0.8%. Our unemployment rate of 3.3% is well below the national 4.3%. And Provo — the economic heart of Utah County — was recently ranked 8th best city for business in the Wall Street Journal's list of the 100 most populous cities, outranking Oklahoma City and Denver.

The reason? Silicon Slopes. Adobe, Microsoft, Qualtrics, Oracle, and dozens of fast-growing startups have built major operations here, and that expansion isn't slowing down. Tech-adjacent communities across Utah County — including Springville, Spanish Fork, Mapleton, and Salem — are benefiting directly from this growth. Employees want to live close to work. Families are relocating from California, Washington, and other high-cost states and finding that Utah County offers quality of life at a price point that still makes sense.

This is the foundational reason why Utah County's price floor holds even as national markets soften. Job growth creates housing demand. Housing demand supports values. It's not complicated — but it is easy to miss if you're reading national real estate news without a local lens.

Pricing is everything right now — and I cannot say that clearly enough.

The good news: buyer demand in Utah County is real and it's growing as we head into spring. The buyers are out there. But they are not the same buyers we saw in 2021 and 2022. They are doing their homework, they have seen what homes are actually selling for, and they will pass on an overpriced listing without a second thought.

The sellers who are winning right now are the ones who come to market priced at or slightly below current comps, with strong professional photography, clean presentation, and a flexible showing schedule. Those sellers are seeing solid offers and reasonable timelines. The sellers who are struggling are the ones who priced for the market of two years ago and are now sitting with stale listings and reduced prices — which actually hurts your final number more than pricing right from the start would have.

Spring is your moment. Let's make sure you use it well.

Utah County in February 2026 is a market of real opportunity — for both buyers and sellers — but it rewards preparation and local knowledge. The Silicon Slopes economy gives us a foundation that most markets don't have. The spring season is approaching fast. And the buyers who've been waiting are starting to move.

Whether you're thinking about listing this spring, ready to start your home search, or just want to understand what your home is worth in today's market, I'm here. No pressure, no pitch — just honest, experienced guidance from someone who knows this market and genuinely loves helping people navigate it.

I want to lead with this because it matters — a lot.

As of February 19th, the 30-year fixed-rate mortgage averaged 6.01%, down from 6.09% the week before and significantly lower than the 6.85% we saw at this same time last year. Freddie MacTo put that in perspective: rates are now at their lowest level since September 2022. Yahoo Finance That's not a small headline. That's a genuine shift — and it has real implications for anyone who is buying, selling, or sitting on the fence wondering whether now is the right time to move.

The short answer? It might be.

Let me break down exactly what this means for you.

Here's where things stand as of this week:

30-year fixed: ~6.01% 15-year fixed: ~5.35%

Freddie MacAnd if you shop aggressively across lenders, some borrowers are finding rates closer to 5% — simply by comparing options rather than going with the first lender they speak to.

CBS NewsThe trajectory over the past year is equally encouraging. Rates have dropped gradually since the end of May 2025, when the 30-year rate was sitting at 6.89%. T Yahoo Financehat's nearly a full percentage point of improvement in less than a year — and that translates directly to hundreds of dollars less per month on a typical Utah County home purchase.

Looking ahead, the Mortgage Bankers Association and Fannie Mae both expect rates to remain near 6% through the end of 2026 — Yahoo Finance meaning we're unlikely to see dramatic further drops, but also unlikely to spike back up to last year's highs. This is the environment we're working in for the foreseeable future, and it's meaningfully better than where we were.

Let's put these numbers in real terms for Utah County.

On a $500,000 home with 10% down ($450,000 loan), the difference between a 6.85% rate (where we were a year ago) and today's 6.01% is approximately $270 less per month. Over the life of a 30-year loan, that's nearly $97,000 in savings.

That's not nothing. That's a car. That's college tuition. That's a meaningful difference in what homeownership actually costs you month to month.

Here's the other thing buyers need to understand right now: for the first time in years, buyers may finally experience something close to a balanced market. Inventory is higher than it's been since before the pandemic, and mortgage rates are meaningfully lower than their 2022 peak. Th Redsignat combination — more homes to choose from and lower borrowing costs — is genuinely rare. We haven't seen it together in a long time.

My strong advice: get pre-approved now, before the spring rush. Purchase applications and refinance activity have already jumped in response to falling rates — Yahoo Financewhich means more buyers are getting active. The window of less competition won't stay open forever.

A pre-approval also gives you real negotiating leverage. When you walk into a showing knowing exactly what you can spend and that your financing is solid, you're a fundamentally different buyer than someone still figuring it out.

Lower rates bring buyers back into the market — and that is unambiguously good news for sellers this spring.

Refinance application activity has more than doubled over the past year as rates have improved, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars — a Bankratend that renewed confidence in the market is spilling over into purchase activity too. Buyers who paused their search in 2024 when rates were punishing are coming back. We're seeing it in showing requests, in pre-approval volume, and in the general energy of the market as we head into February.

But here's the nuance sellers need to hear: lower rates don't replace proper pricing. The buyers coming back into the market are informed. They've watched the market. They know what homes are actually selling for. A home that is priced correctly for today's market will see this renewed buyer energy translate directly into offers. A home that's overpriced will still sit — regardless of what rates do.

One of the most powerful tools available to sellers right now — and one that's genuinely underused — is the seller-paid rate buydown.

Here's how it works: instead of dropping your list price, you offer to contribute toward buying your buyer's interest rate down at closing. A 1-point buydown on a $450,000 loan costs roughly $4,500 — but it can reduce the buyer's rate by approximately 0.25%, saving them meaningful money every single month for the life of the loan. That's often a much more compelling offer to a buyer than a straight price reduction of the same amount.

Why does this matter? Because buyers think in monthly payments. A $4,500 price reduction barely moves the needle on a monthly payment. But a rate buydown that saves them $80-$100 per month? That's something they feel every single month. It makes your home more affordable without necessarily reducing your bottom line by as much as a straight price cut would.

This is one of those strategies that looks sophisticated on paper but is actually straightforward to execute — and right now, as buyers are coming back into the market with rate sensitivity top of mind, it's one of the most effective negotiating tools in the seller's toolkit.

Want to know if a buydown strategy makes sense for your specific situation? That's exactly the kind of conversation I love having. Let's talk numbers.

Rates at a three-year low. Spring buying season approaching. Inventory higher than it's been since before the pandemic. And a Utah County economy anchored by one of the strongest job markets in the country.

If you've been waiting for a sign that the time is right — this newsletter is it.

Whether you're a buyer who's been sitting on the sidelines, a seller who's been waiting for the right moment to list, or someone who bought in the past two years and is wondering if refinancing makes sense — there are real opportunities in this market right now for people who act with good information and a solid strategy.

I'm here to help you figure out exactly what that looks like for you.

Important note: Mortgage rates quoted are national averages as reported by Freddie Mac and other sources as of the week of February 19, 2026. Your individual rate will depend on credit score, loan type, down payment, and lender. Please consult with a licensed mortgage professional for personalized rate information.

If you're a buyer, here's the honest truth: this market is the most favorable you've seen in years, and it's not going to get dramatically easier.

Inventory is higher than it's been since before the pandemic. Rates are lower than their 2025 peak. Sellers in many price ranges are more willing to negotiate on concessions, closing costs, and repairs than they were two years ago. The frantic bidding war environment is largely gone in most segments.

What hasn't changed is the long-term fundamentals. Utah County is growing. Jobs are here. The population is young — Utah has the youngest median age in the nation at 32.3 years — and those households need homes. Waiting for prices to drop significantly is a strategy that has cost a lot of buyers dearly over the past decade, and I don't see the conditions for a major correction in south Utah County.

My advice: get pre-approved now, before the spring rush hits. Know your number. Know your neighborhoods. And when the right home comes along, be ready to move — because the well-priced homes are still going quickly.

We're building something here in south Utah County, and we're looking for the right people to build it with us.

Sound like something worth a conversation? Drop a 🏡 below or send me a DM. No pressure. Just a real talk about where you are and where you want to go.

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🚫 MYTH: "I'll wait until rates drop more — then I'll buy."

✅ REALITY: The buyers who wait for the perfect rate often watch the perfect home sell to someone who didn't.

Here's the math nobody talks about: rates are currently sitting around 6% — the lowest they've been since September 2022. That's already a significant drop from the 7%+ we saw just a year ago. And most economists expect rates to stay near this level through the rest of 2026. Not dramatically lower. Not dramatically higher. Right around here.

So what happens if you wait?

Spring inventory hits the market. More buyers come off the sidelines. Competition increases. And that home you loved — the one in the neighborhood you wanted, in the price range that worked — gets multiple offers while you're still watching rates on your phone.

Here's what smart buyers know: you marry the home, you date the rate. You can refinance later if rates drop. You can't go back and buy the house that sold six months ago.

The market in south Utah County is moving. Buyers who are prepared — pre-approved, clear on their priorities, working with a team that knows this area — are the ones who win.

Ready to stop waiting and start winning? Let's talk.

📩 DM us or click the link in bio to schedule a free consultation.

#UtahCountyRealEstate #HomeBuyer #MythVsReality #MortgageRates #BuyNow #SpringvilleUT #TheCollinsTeam #eXpRealty #UtahHomes #RealEstateTips

Keep showing up, keep cheering each other on — and as always, keep busy.

Lori Collins, Associate Broker #14213653-AB00

Jeff Collins, Salesperson #1421190-SA00

Springville, UT 84663

385-543-5553

[email protected]/[email protected]

https://www.loricollins.com

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The Collins Team/eXp Realty LLC