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Market Update for Utah County
Utah’s housing market continues to move toward a more balanced pace in 2026. After several years of rapid price increases and tight inventory, the market is stabilizing with slower but steady growth. The median home price in Utah County is around $520,000, about 4% higher than last year, showing that values remain resilient even as the market normalizes.
Homes are also taking a bit longer to sell. The average time on market in Utah County is now about 62 days, compared with about 49 days last year. This shift means buyers have more time to make decisions, while sellers need to focus on strategic pricing and strong presentation. ()
Mortgage rates are hovering around 6%, which is lower than the peaks seen in 2023 but still higher than the historic lows during the pandemic. Rates in this range are expected to continue through much of 2026, keeping affordability a key factor in buyer decisions. ()
Overall, experts expect Utah’s housing market to experience moderate price growth and improving inventory, creating a healthier environment for both buyers and sellers compared with the extreme conditions of the past few years. ()
The bottom line: the market is no longer the frenzy of 2021, but demand remains strong and Utah’s long-term growth continues to support home values.
Lending Update-Southern Utah Valley 2026
Mortgage rates continue to hover around the 6% range, with the average 30-year fixed rate currently sitting around 6.1–6.2%. While that’s higher than the historic lows of 2020–2021, it’s noticeably lower than the peaks above 7% seen in 2023. Most forecasts expect rates to remain close to this level through much of 2026. ()
Because rates are stabilizing, lenders and builders are getting creative to help buyers manage monthly payments. One of the most common strategies right now is rate buydowns, where sellers or builders help lower the buyer’s interest rate for the first few years of the loan.
Another major factor in Utah is down payment assistance programs. Through programs offered by the Utah Housing Corporation and other organizations, buyers may qualify for assistance covering up to 6% of the loan amount for down payment and closing costs. ()
The bottom line: while mortgage rates are still a key factor in affordability, stable rates and expanded assistance programs are helping more buyers re-enter the market.
This Week’s Seller’s Tips
Selling a home in today’s market requires the right strategy. While demand in Utah remains strong, buyers are more selective than they were a few years ago. Homes that are priced correctly and presented well continue to attract strong interest.
Price strategically. Overpricing can cause a home to sit on the market longer. Reviewing recent comparable sales and pricing competitively often brings more showings and stronger offers.
Make a strong first impression. Most buyers see your home online first. Professional photos, clean spaces, and simple staging can dramatically increase interest.
Handle small repairs before listing. Fixing minor issues like loose handles, chipped paint, or burnt-out lights helps buyers feel confident about the home.
Be open to negotiation. In today’s balanced market, flexibility with closing costs or timelines can help move a deal forward.
A well-prepared home still stands out—and often sells faster and for a stronger price.
Buyer’s Corner on the Market
Buying a home in today’s market starts with preparation. While the market has become more balanced, the most successful buyers are the ones who plan ahead.
Get pre-approved first. A full pre-approval from a lender shows sellers you’re serious and ready to move forward.
Focus on the monthly payment. Interest rates play a major role in affordability. Work with your lender to understand your comfortable payment range.
Look slightly below your maximum budget. This gives you room to negotiate if needed and keeps your payment manageable.
Don’t skip inspections. Even newer homes can have issues. An inspection helps protect your investment.
Think long-term. Consider future growth, commute times, and neighborhood development when choosing the right home.
A prepared buyer is often the buyer who ends up with the keys.
The Collins Team at eXp Realty exists because Jeff and I built the kind of environment we wished we'd had. One where agents actually get mentorship from people who've done the work. Where the tools are world-class. Where you're not just a number on a roster.
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.
Join a Legacy of Excellence in Real Estate
At eXp Realty LLC/Collins Team, we redefine the real estate industry with innovation, integrity, and unparalleled expertise. Be part of a team that leads the way
#RealEstateCareers #UtahRealEstate #JoinOurTeam #eXpRealty #TheCollinsTeam #RealEstateAgent #UtahCountyRealEstate #AgentLife #RealEstateMentorship #SwitchBrokerages
Myth vs Reality
Real estate advice often gets repeated so many times it starts to sound like fact. Let’s separate a few common myths from what’s actually happening in today’s market.
Myth: You need a 20% down payment to buy a home.
Reality: Many buyers purchase with much less. Conventional loans can start around 3–5% down, FHA loans require about 3.5%, and assistance programs can help with down payment and closing costs.
Myth: You should always price your home high to leave room for negotiation.
Reality: Overpricing often causes a home to sit on the market longer. Homes priced correctly from the start tend to attract more interest and stronger offers.
Myth: The best time to buy or sell is always spring.
Reality: Spring is busy, but homes sell year-round. Fall and winter buyers are often serious and face less competition.
Myth: New construction homes don’t need inspections.
Reality: Even new homes can have issues. An independent inspection helps catch problems before closing.
#UtahCountyRealEstate #HomeBuyer #MythVsReality #MortgageRates #BuyNow #SpringvilleUT #TheCollinsTeam #eXpRealty #UtahHomes #RealEstateTips
That’s it for today.
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
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[Phone] 📧 [Email] 🌐 [Website]
The Collins Team/eXp Realty LLC