Additionally, sellers continued to receive more than their asking prices at an average of 103% - about the same as last year. The average number of days to sell a home was 19 in April, which is a record low for this time of year. existing home sales.īecause there is still strong demand for the limited number of homes, Utah homes continued to sell quickly.
“Housing supply has started to improve, albeit at an extremely sluggish pace,” said Lawrence Yun, chief economist of the National Association of Realtors in a press release about U.S. A normal market has six months of inventory. Even so, the strong seller’s market remains intact with only 1.1 months of inventory.
Other than March, that’s the first increase in year-over-year inventory since August 2019. The number of active listings in Utah increased nearly 19% in April. That’s according to April numbers from the Utah Association of Realtors that show the effect of rising mortgage rates and the continued housing shortage. Utah home buyers had more choices in April as year-over-year housing inventory rose for only the second time since 2019. Utah home buyers seeing more choices as housing inventory rises
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