In recent years there have been swings in the Utah mortgage rates, homes, and in rent prices. Although Utah housing prices have been rocky the last 10 years the Covid 19 pandemic in 2020 caused effects in the housing market that people in Utah are still suffering from.
Even though the price of houses is dipping into an all time low for the state. Most first time biers looking at homes in Utah are un able to buy a home. In 2022 home sales dropped by almost 20% since then the numbers continue to plummet. effects are being felt all over the state. specifically in Wasatch Front. from the beginning of 2023 in January to June of 2023 we are seeing this area struggle. Resent data shown from Augest dose not look like it will taking a turn upwards any time soon.
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