Both home sales and prices are expected to rise in Salt Lake County this year, according to a report commissioned by the Salt Lake Board of Realtors.
The 2024 Salt Lake Housing Forecast Report projects residential home sales to rise 16 percent, reaching 13,000 homes. That is up from last year’s 12-year low of 11,195 homes. Among the drivers are factors including more favorable mortgage interest rates, improved consumer sentiment, and an increase in listings.
Meanwhile, the median home price is expected to balloon as mortgage interest rates soften. The forecast indicates a reversal of the prior-year price decline of 2.8 percent, with an anticipated 3 percent rise in the median sales price for all homes, bringing it to Please log in to see the rest of this story.
