As 2024 comes to an end, Utah County has seen another year of positive appreciation. Despite strained affordability suppressing buyer demand, prices have still increased 4.7% year over year, with a 12 month average of a 2.2% increase. With 3.5 months of housing inventory, we’re experiencing more healthy levels of appreciation. I’ve compiled forecasts from economists along with data that is currently available to us below to help have an educated understanding of both the national and Utah housing market as we look forward to 2025.

Table of Contents

• National Home Price Forecasts

• Market Dynamics

• Utah County

• Let's Connect

• 🎁 Last week to win some free gift cards!

National Home Price Forecasts

As we look forward to 2025, the vast majority of economic analysts predict modest but positive home price appreciation across the United States. The consensus among 16 leading financial institutions and real estate experts suggests an average home price increase of 3.5% in 2025. This projection comes at a time when the housing market continues to navigate challenges of high mortgage rates and affordability concerns.

Market Dynamics

Experts attribute the continued price appreciation to several key factors:

• Low inventory of homes for sale

• Solid wage growth

• Lower interest rates

• Strong employment rates

• Low levels of foreclosures in most areas

Utah County

It's crucial to understand that national averages don't tell the whole story. Home prices can vary dramatically by region. For example, Utah County has seen average home prices rise by 4.7% over the past year. Other areas, such as Punta Gorda, FL, have experienced price declines of -7.3%

In Utah County, housing inventory is building as it is taking longer for existing homes to sell. However, we have also seen an increase in buyer demand as interest rates came down from their peak with more homes going under contract and selling. This all means that while supply is increasing in Utah County, demand has followed. As we continue to see interest rates come down through 2025, many buyers who have been waiting will come back into the market leading to increased buyer demand.

As a buyer, this means more competition when making offers. As a seller, expect to see more offers on your property if demand continues to follow supply.

Let's Connect

Whether you're considering buying, selling, or investing, the 2025 housing market presents opportunities. Local market conditions will play a critical role in your real estate decisions.

I'm here to help you navigate these market trends and find the best opportunities for your unique situation. Reach out to discuss how these projections might impact your real estate goals.

Here to serve,

🎁 PS… Last week to win some free gift cards! 🎁