Where are home prices in Utah County? According to the media, home prices are still headed up!
However, that isn’t exactly the case in Utah County. While home prices are still strong, they have dipped a bit largely due to high interest rates.
Home prices peaked in Utah County in the 2nd quarter of 2022 at $545,000. Year over year, prices dropped to $488,000 in Utah county for the average home. That’s a 10.5% drop in just one year. The Fed is still raising borrowing rates, but people still need homes! We’ll see what 3rd quarter numbers look like next week.
