New numbers show troubling downturn in Utah's housing market
The median single-family home price in the county dropped to $541,900 in December 2022, a 6% decrease over the same period a year earlier, marking the first year-over-year decline since 2011.
In all, home sales in all of 2022 were down 26% from 2021, which the group says is the single biggest year-to-year drop since records began being kept in 1997. Homes are also spending a lot more time on the market, with the median listing time now reaching 41 days in December, up from just 9 days in 2021.
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