Salt Lake City, UT - Local Housing Data - Summary

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Salt Lake City, UT Local News

  • Beyond the Lot Line

    As builders leverage the value of amenity-rich master planned communities, a finely tuned trade-off takes place between what's inside and outside the homes.

  • Comments on the Pulte Dominion Acquisition

    PulteGroup landed a regional stronghold untethered by legacy land issues as it wrests up to 8,100 lots in Ohio and Kentucky as it acquires Dominion Homes. Here's some thoughts on motivations and challenges, risks and rewards from BUILDER editorial director John McManus.

  • Utah Gives North Dakota a Run for the Money on Job Creation

    Wall Street Journal staffer Eric Morath reports from Labor Department data released Monday that Utah has emerged this year as a job creation leader (paywall). The state's July unemployment rate of 3.6% ranks only behind North Dakota's minuscule 2.8%. Utah payrolls have grown by 2.5% over the past...

Recent Numbers For Salt Lake City Show New Home Closings Climb

Posted on: Sep 11, 2014 07:30:28 AM

The Salt Lake City, UT market saw a rise in new home closings in June year-over-year, recovering from a decline in May 2014. Closings gained to 228, marking a 16.3% move from a year earlier. This followed a move from 211 in May 2013 to 196 in May 2014.

A total of 2,483 new homes were sold during the 12 months that ended in June, up from 2,451 for the year that ended in May.

As a percentage of overall housing closings, new home closings accounted for 9.6%. This is better than the 8.0% of closings a year earlier. Following a year-over-year decline in May, closings of new and existing homes also declined year-over-year in June.

Pricing and Mortgage Trends

The average value of newly sold homes moved to $330,906 in June 2014 from $332,127 in June 2013. This came after a 2.6% drop in May from a year earlier.

In June 2014, average mortgage size on newly sold homes moved from $285,879 to $284,296 from June 2013. In May 2014, average mortgage size on newly sold homes saw a 4.5% fall from a year earlier.


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