Utah ranks 4th nationally for new home builds, authorizing 18.6 new units per 1,000 existing homes in 2024. Despite a nearly 25% drop in new home authorizations since 2022, Utah's median home price remains high at $535,217. The Salt Lake City-Murray area ranked 20th among large metros for new housing permits but saw a 46.1% decline. Provo-Orem-Lehi and Ogden ranked 8th and 37th among mid-sized metros, while St. George ranked 3rd among small metros.
Continue to full article