2026 Salt Lake Real Estate Forecast
/The Salt Lake Board of Realtors has just released its 2026 Housing Forecast. In it, James Wood, Ivory-Boyer Senior Fellow at the Kem C. Gardner Policy Institute, David Eccles School of Business at the University of Utah, gives his annual wrap of of 2025 and lets us know what is expected for this year. I will link the full report with all of its gorgeous statistics below.
The name of the game in the 2025 and 2026 markets is Stability. I would say that the market has been stabilizing since 2023, and I’m glad to see it. Between 2020 and 2022, the Salt Lake area saw prices rise by 40%! That’s a lot of movement and is completely unsustainable. It also made prices incredibly unaffordable for many people here.
The market started to slow down with higher interest rates in 2023, and in the time since then, prices have increased just 3.8%. Last year alone, prices rose just under 2%. That’s a much, much, much more sustainable number. Historically, over time, house prices typically rise, on average, about 5% per year. So we’re a little under that, but not by much.
For 2026, experts expect our prices to hold steady and not increase or decrease much from 2025 prices. What does that mean in the everyday buying and selling market? It means that buyers will come to the table in a much more balanced market, and buyers and sellers will need to work together to negotiate terms that work for both sides. And, though sellers won’t see record soaring prices and houses selling in mere days, they will have serious buyers to work with and will not see decreasing prices on their homes. Sellers will need to be more mindful and deliberate when pricing their homes.
I, for one, welcome this balanced market. It’s healthy, sustainable, and stable.
If you’re in the market to move, give me a call, and we’ll get started!