44% of Sellers Are Giving Concessions to Buyers

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Utah Market Data

> Multi-Unit (2+ Units) - Active Listings & Median Price Per Sq Ft

• Active Multi-Unit Listings are up 22% going from 206 last year to 252 today.

• Median Price Per Sq Ft for Active Multi-Unit Listings is down 3.10% going from $268 last year to $260 this year.

> Single Family Home - Active Listings & Median Price Per Sq Ft

• Active Single Family Listings are up 46% going from 7,514 last year to 10,967 currently.

• Median Price Per Sq Ft for Active Single Family Listings is down 1.12% YTD going from 229 last year to 233 this year.

Rates & Financing

> Mortgage Rates as of 4/23/2025

Headlines & Insights

Seller Concessions Surge as Buyers Regain Leverage in Slower 2025 Market

Nearly half of U.S. home sales included seller concessions in Q1 2025, indicating a notable shift toward a more buyer-friendly market amid elevated rates and growing supply.

Key insights:

• Concessions on the rise: 44.4% of home sales included concessions in Q1 2025, up from 39.3% a year earlier and near the record 45.1% high of Q1 2023.

• Top metros for concessions: Seattle led the nation with concessions in 71.3% of deals, followed by Portland (63.9%) and Los Angeles (56.1%).

• Buyer caution remains high: 13.4% of pending home sales were canceled in March—evidence of continued buyer uncertainty.

• Inventory climbs: Active listings hit a five-year high, giving buyers more options and leverage in negotiations.

What this means for Utah investors: While Utah wasn’t specifically called out in this report, the broader national trend of rising concessions and softening buyer demand suggests similar dynamics may be at play in Salt Lake City and other key Utah markets. If inventory continues to rise locally, Utah sellers may need to offer closing cost help or rate buydowns to compete.

For investors, this environment presents an opportunity to negotiate more favorable terms—especially on properties lingering on the market. Concessions can improve cash flow and reduce upfront capital needs on acquisitions, particularly in deals where financing costs are high.

Mortgage Demand Dives – Weekly mortgage applications fell nearly 13% as rates surged to 6.90%, the highest in two months, sparking buyer hesitation and a sharp 20% drop in refinance activity. Economic uncertainty, stock market losses, and rising home prices

Off-Market Multi-Unit Property in Utah – We work with a select number of serious buyers through our Off-Market Acquisition System™—a proven process for quietly sourcing 4–50 unit properties directly from long-term owners before they ever hit the MLS, Loopnet, or Crexi. Sponsored

Markets Soothe After Trump Walkback – The 10-year Treasury yield dipped to 4.34% after President Trump reversed course on firing Fed Chair Jerome Powell and signaled a softer stance on China tariffs. Investors had feared major market disruption, but reassurances from Trump and Treasury Secretary Bessent eased concerns, leading to a modest bond rally.

Tech Surge Ahead? – Chicago Fed President Austan Goolsbee said Wednesday the U.S. may be entering a new era of productivity growth driven by technology, potentially boosting economic mobility and income opportunities. Speaking at a Philadelphia Fed conference, he emphasized innovation as the key engine of long-term prosperity.

Sunbelt Squeeze – A record 592,000 multifamily units delivered in 2024 have overwhelmed Sunbelt markets like Dallas, Miami, and Charlotte, driving up vacancies and stressing owners with rising costs and floating-rate debt exposure. While demand remains strong and new construction slows, overbuilt metros face a reset as the market seeks balance.

CRE Stays Solid Amid Tariff Turbulence – Despite growing economic uncertainty and a potential 65% chance of recession, commercial real estate is showing resilience as investors seek stable, inflation-resistant assets. While tariffs have raised costs and credit spreads, early Q1 data points to falling apartment and office vacancies, holding retail rates, and only slight industrial softening—positioning CRE as a steady hand in volatile times.

Whenever you’re ready, there are a couple of ways I can help you:

1. Get Access to Exclusive, Off-Market, Value-Add Multi-Unit Deals:
   We work with a select number of serious buyers through our Off-Market Acquisition System™—a proven process for quietly sourcing 4–50 unit properties directly from long-term owners before they ever hit the MLS.

2. Sell Your Multi-Unit Property for Top Dollar:
   We’ll strategically position your multi-unit property for full market exposure, extract maximum value, and streamline the sales process.