SALT LAKE CITY — The 2026 spring home-buying season is officially underway, under some pretty rocky circumstances. Mortgage rates are falling, but the war with Iran is influencing prices day by day.
And Utah’s growing housing crisis continues to make buyers lose hope.
But aside from poor sentiment, what is the reality of trying to buy a house in Utah right now?
According to Salt Lake Board of Realtors Scott Colemere, potential homebuyers could get caught up in the emotion of the season, but with a tricky housing market.
“The real estate market is like two humps of a camel. We have spring selling season and we are in it right now,” he said. “Honestly, I think it's weather-related. The sun is shining. The grass starts to get green and people feel good.”
“As soon as they start thinking, ‘Oh, it's a buyer’s market, I have so much time, I can look at this house once and then the next week I'll look at it again and maybe in two weeks I'll make a decision!’ As soon as they do that, well-priced properties, somebody else will jump on that.”
Colemere said affordability has been an issue for many clients who have found themselves outpriced by the Salt Lake market.
Buyers are paying attention to interest rates, which is the single largest factor contributing to the lack of affordability in home prices. The second is the run-up in values that we saw during COVID.
But he said many have had luck finding affordable options in other ways.
“This is an affordable option for a 55+ community. We're in a three-bedroom, two bath, 1,500 square-foot home that is asking $229,” said Colemere. “It's a great home. There are other options for first-time buyers. Condos are very much affordable now, prices have leveled. Townhomes are getting affordable, so there are a lot of different options.”
If affordability is top of mind, another factor to consider is whether you will be paying into a homeowners' association.
Older neighborhoods tend not to have them, but with the newer builds popping up in Utah, it takes some work to avoid them if you're looking to avoid those extra fees.
“It's really hard as a new buyer to understand if you're getting a good deal on your HOA,” said Trever Midgley, president of HOA Strategies. “Every neighborhood is set up differently and it's not an apples-to-apples comparison that you can do between neighborhoods. Really, it’s the personal risk and the personal level you have as an individual on what those assessments are going for.”
All in all, if you're thinking about buying this spring, don't think too long.
“Here's a really good tip for buyers this spring,” said Colemere. “If you go through the property with your realtor and you say, ‘Oh it looks good and the price feels good’, don't wait, because the ones that are well-priced, they will move.”
