Utah Ranks 4th for Investor Home Buys

Utah Multi-Unit Sales Down 7.72% YTD; Holladay Fourplex Listed for $998k

Author

David Robinson
June 25, 2025

> Featured Listings

Click images below to request details.

Rare 5-plex on Harvard Avenue. Just down the street from the famous 9th and 9th area, this 5-plex is in great shape with four 1-Bedroom units and one Studio apartment. 4 one car garages are included that can be rented separately for additional income, if desired. All units have been updated and are in great shape.

This property features two 5-unit townhome buildings that are just 3 years old and a newly renovated duplex, totaling 12 units. Each unit includes a private garage and offers an open floor plan with a spacious master suite, making it highly attractive to renters.

All units have been tastefully updated and are in excellent condition, making them highly attractive to renters. Tenants enjoy access to on-site amenities, including a tennis court and covered parking, ensuring convenience and added value to the property. Each unit comes with its own washer/dryer, offering additional convenience for tenants. Situated in the highly sought-after Holladay neighborhood, this property is only about 15 minutes from Downtown SLC, minutes from countless outdoor activities including hiking in beautiful canyons, ski resorts, golf, Hogle Zoo, theaters, shopping, restaurants.

Get Access to David’s Private Multi-Unit Deal Flow

The upstairs unit features 2 bedrooms, 1 bathroom, beautiful hardwood floors, and plenty of natural light. The downstairs unit offers 1 bedroom, 1 bathroom, and a spacious family room. Always in demand due to its prime location near BYU, Provo Center Street, and I-15. Leases run through April and June 2026.

Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.

> Sold Multi-Unit Listings

> Utah Market Data

Multi-Unit (2+ Units) Data

Sold Listings and Price Per Sq Ft

  • The number of sold multi-unit listings is down 7.72% YTD going from 246 to 227.

  • The median price per square foot for sold multi-unit listings is down 4.46% YTD going from 252 to 241.

Single Family Data

Sold Listings and Price Per Sq Ft

  • The number of sold single family listings is down 0.46% YTD going from 17,450 to 17,370.

  • The median price per square foot for sold single family listings is up 1.50% YTD going from 232 to 235.

> Rates & Financing

Mortgage Rates as of 6/24/2025

> Headlines & Insights

FEATURED

Despite rising prices and interest rates, investors continue flocking to affordable states like Utah, where investor purchases made up 18% of home sales last year—putting the state in the top four nationwide.

Main takeaways:

  • Utah ranked 4th among U.S. states for share of investor home purchases in 2024, increasing 0.3 percentage points from the prior year.

  • Investor reliance on financing grew as all-cash purchases dropped to their lowest share since 2008—though still double the cash share of regular buyers.

  • Markets with lower home prices but resilient rents, such as Kansas, and Oklahoma, attracted the highest investor interest due to stronger potential yields.

What this means for Utah investors:
Utah’s strong investor presence signals continued demand for rental housing. While more investors are using financing due to high prices, Utah’s steady rent performance and growing population make it a competitive but promising market. Investors should act strategically, focusing on well-located properties with solid rental fundamentals and being prepared for tighter margins due to borrowing costs.

National Headlines

Fed Holds Rates Amid Doubts – The Fed left interest rates unchanged in June, with growing internal disagreement over whether any cuts will happen this year. Chair Powell cited ongoing uncertainty—especially around tariffs—and said officials need more time and data before adjusting policy, keeping mortgage rates stuck near current levels.

Phoenix Leads BTR Boom – Over 64,000 build-to-rent units are under construction nationwide, with Phoenix alone accounting for 18% of that pipeline—more than any other U.S. market. The Sun Belt continues to dominate BTR growth, as demand for single-family rentals remains strong despite a nationwide slowdown in new starts.

Powell Holds Firm on Inflation – Fed Chair Jerome Powell said the central bank will keep rates steady until it better understands how tariffs impact inflation, despite pressure from President Trump to cut. Powell emphasized the Fed’s independence and warned that premature action could turn short-term price spikes into lasting inflation problems.

FHFA Reports National Home Price Dip – The FHFA reports U.S. single‑family home prices fell 0.4% in April—the first monthly decline since August 2022—while still up 3.0% compared to the same time last year . Regional trends varied, with the biggest monthly drops in the South Atlantic and West South Central areas, while the Middle Atlantic showed gains

HUD Scraps Green Mandate for Multifamily – HUD Secretary Scott Turner announced a plan to level all FHA multifamily mortgage insurance premiums at 25 basis points, effectively eliminating the Green MIP category. The move aims to reduce costs for developers and accelerate affordable housing, ending what Turner called “ideological” energy-efficiency mandates.

Multifamily Drop Drags Starts – Housing starts fell 9.8% in May, driven by a nearly 30% plunge in multifamily construction, while single-family starts stayed mostly flat. With permits also declining and mortgage rates still high, builders face a tough spring season marked by affordability challenges and economic uncertainty.

What did you think of today's report?

Login or Subscribe to participate in polls.

David Robinson

Principal Broker/Owner

Whenever you’re ready, here are a few ways I can help you:

1. Access David’s Private Deal Flow: Get access to my private pipeline of pre-market and off-market multi-unit deals. I work 1-on-1 with a small group of clients to help them source, underwrite, and close high-quality opportunities—with hands-on guidance from start to finish.

2. Free Property Performance Review: Whether you own one rental or a full portfolio, I’ll personally review your holdings to assess current value, performance, and your next best move.

3. Free 15-Minute Strategy Call: Whether you're a new or experienced investor, this quick call is a chance to talk through your goals, learn more about our services, explore investment options, or get feedback on a current property or project.