Real Estate

Kim Bojórquez
Mar 15, 2023 - News

Utah reveals aggressive plan to reduce homelessness

Illustration of the dotted outline of a house key, but no house key.

Illustration: Brendan Lynch/Axios

Utah leaders aim to reduce the number of people experiencing homelessness and increase access to affordable housing under a new strategy revealed this week.

Driving the news: The state's Homelessness Council and Office of Homeless Services released a 24-page report outlining actionable goals to address the issue in the Beehive State.

Salt Lake City housing prices have cooled down

Data: Redfin; Chart: Axios Visuals

Salt Lake City metro's median home sales price was $490,000 as of January, down 2% from the same time last year, per Redfin data.

Why it matters: Any relief from sky-high home prices is welcome, especially as mortgage rates creep up.

Salt Lake City rents remain high, for now

Data: Moody's Analytics; Table: Kavya Beheraj/Axios

In the fourth quarter of 2022, the average rent in the Salt Lake City metro area was $1,321 — up 7.5% from a year earlier, per economic research firm Moody's Analytics.

Why it matters: Affordability concerns are beginning to weigh down the city's booming rental market.

Salt Lake home market will stabilize in 2023, experts say

Illustration of the year 2022, with a keyhole for a zero, which zooms in so you can see through the keyhole to the year 2023.

Illustration: Brendan Lynch/Axios

Local experts predict 2023 will bring balance to the Salt Lake City real estate market. Here’s what they’re saying.

Salt Lake’s real estate market is finally calmer but not cheaper

An illustration of a house being measured by a large hand.

Illustration: Sarah Grillo/Axios

Signs of a cooling market persist in Salt Lake County, according to the latest data from the Utah Association of Realtors.

Why it matters: After two-plus years of plummeting inventory and soaring home prices, buyers have waited a long time for a little relief.

Salt Lake County apartment rents surge amid COVID-19 pandemic

Data: Kem C. Gardner Policy Institute; Chart: Axios Visuals

The average asking rent in Salt Lake County increased by nearly 11% each year during the COVID-19 pandemic, a recent Kem C. Gardner Policy Institute report found.

  • From 2010–2020 the average annual rent increase in the county was 2.6%.
Erin Alberty
Aug 16, 2022 - News

Salt Lake incomes rise but aren't keeping up with housing prices

Data: Redfin analysis of HMDA data; Chart: Skye Witley/Axios

Salt Lake homebuyers make more money than they did before the pandemic.

Yes, but: It's still not enough to cover the rise in home prices.

Salt Lake City's real estate market is slowing down, slightly

Illustration of a downward trend line over a house

Illustration: Rebecca Zisser/Axios

With pending home sales dropping year over year, Salt Lake City's real estate market is showing early signs of slowing down. But, home prices are still up about 23% from May 2021.

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