October 2026 Housing Market

Sales Are Slowing. What Does That Mean for Home Prices?

Across Salt Lake and Utah counties, October home sales fell 13% to 33% compared with last year. Yet median sale prices stayed close to where they were last October. Here is why both can be true.

You may be seeing plenty of price reductions. Those are changes to asking prices, while the median sale price measures what homes actually sold for. Sellers can be adjusting their expectations even when closed-sale medians remain fairly steady year over year.

The bigger shift: From August to October, median sale prices eased in all four segments, and months of housing supply increased. That suggests more room for buyers to compare options and negotiate—especially on listings that have been sitting.

BUYING?

You may have more choices and negotiating room.

SELLING?

A realistic asking price and strong presentation matter more than ever.