Rates jump, sales slow, buyers gain ground. Figures as of Oct 3, 2026.
Mortgage rates rose half a point in three weeks, to their highest level since November 2023. Utah County sales fell 19% from a year ago while the number of homes for sale kept climbing, and townhomes and condos took the biggest hit. For buyers, that adds up to more supply relative to sales than any September since at least 2019.
7.24%
30-year fixed, Oct 29, 2026 +0.48 pts since Sep 10
726
Homes sold, September 2026 −19% vs. a year ago
4.6
Months of supply, September 2026 3.5 a year ago
65 days
Townhome & condo days on market sales −37% vs. a year ago
Rates
Freddie Mac 30-year fixed, weekly average, through Oct 29, 2026.View as a table
Week of
Rate
Jul 23, 2026
6.58%
Jul 30, 2026
6.66%
Aug 6, 2026
6.69%
Aug 13, 2026
6.67%
Aug 20, 2026
6.65%
Aug 27, 2026
6.66%
Sep 3, 2026
6.71%
Sep 10, 2026
6.76%
Sep 17, 2026
6.95%
Sep 24, 2026
7.03%
Oct 1, 2026
7.28%
Oct 8, 2026
7.40%
Oct 15, 2026
7.40%
Oct 22, 2026
7.32%
Oct 29, 2026
7.24%
The Freddie Mac 30-year fixed average was 7.28% on October 1, up from 6.76% on September 10. That was the sixth weekly increase in a row and the highest reading since November 2023. On a $535,000 home with 10% down, the difference is about $168 a month in principal and interest.
This is the month a builder's rate incentive matters most. A permanent buydown lowers your payment for the life of the loan. A temporary buydown lowers it for a year or two, then your payment steps up to the full rate. Ask which one you're being offered, and run the payment at the rate you'll pay after the buydown ends.
More homes, fewer buyers.
3,332 Utah County homes were for sale at the end of September: 6% more than a year ago and 26% more than in March. Only 726 sold, down 19% from September 2025. That works out to 4.6 months of supply, the time it would take to sell every listed home at September's pace. A year ago it was 3.5, and this is the highest for any September since at least 2019.
The next few weeks look similar. Homes under contract, which are the sales that close in October and November, fell 12% from August and 10% from a year ago. Rates didn't cross 7% until the last week of the month. Sellers are pulling back too: 11% fewer new listings came on than last September. Homes that do sell average 59 days on the market, about the same as a year ago.
The entry level loosened the most. Homes between $300,000 and $500,000 went from 2.6 months of supply to 3.6. It's still the tightest part of the market, but it's the part a half-point rate move hits first.
Utah County, September 2026 — all home types, vs. a year ago
Homes for sale
3,332 (+6.0%)
Homes sold
726 (−18.9%)
Under contract
979 (−9.8%)
New listings
1,102 (−11.3%)
Average days on market
59 (+1.7%)
Months of supply
4.6 (3.5 a year ago)
Months of supply by price — all home types
$300–500K
3.6 (2.6 a year ago)
$500–700K
4.4 (3.7 a year ago)
$700K–1M
5.2 (4.9 a year ago)
Single-family is holding. Townhomes are not.
Split the county by home type and the slowdown is lopsided. Single-family sales were down 8% from a year ago. The 487 that sold spent 56 days on the market on average, about six fewer than last September. A well-priced single-family home is still selling on a normal timeline.
Townhomes and condos are a different market. 213 sold in September, down 37% from a year ago and 21% from August, while listings barely moved (up 3%). Average time on market stretched to 65 days, from about 52. Eight in ten of these sales were between $300,000 and $500,000, the price range where buyers feel a rate jump first. The problem is too few buyers, not too many listings. That gives the buyers who are shopping real leverage.
Single-family Townhomes & condos
Sales vs. a year ago
Days on market
Months of supply, $300–500K
Utah County, September 2026. UtahRealEstate.com RapidStats.View as a table
September 2026
Single-family
Townhomes & condos
Homes sold
487 (−7.9%)
213 (−36.6%)
Average days on market
56 (62 a year ago)
65 (52 a year ago)
Homes for sale
2,259 (+6.9%)
916 (+2.6%)
Months of supply, $300–500K
3.1 (2.4 a year ago)
3.9 (2.7 a year ago)
Builder price cuts
82 new-construction homes we track dropped in price in the last 28 days. Biggest cut $67,433, typical cut $15,000. Most of them: Eagle Mountain (11), Saratoga Springs (10), Tooele (10), South Jordan (6), Ogden (5).
New construction straight from the builders we track — not the MLS. Prices as posted by each builder; a cut compares today’s price with the price four weeks ago. Payments are estimates at the current market rate (7.24%), 5% down, with taxes, insurance, PMI, and HOA dues where they’re confirmed — an incentive can change what you actually pay. Includes every builder we track, not just those in Utah County. Builder prices last checked Oct 26.
What to do with this
If you’re buying
You have more homes to choose from, relative to sales, than in any September since at least 2019. Ask for concessions, whether closing costs, a rate buydown or price, especially on a townhome or condo that's been listed a month or more.
At 7.28%, how a builder spends its incentive matters. A permanent rate buydown can lower your payment more than a price cut of the same dollars, so run both before you choose. Compare complete monthly payments (taxes, insurance, HOA, and the rate after any temporary buydown ends), not asking prices.
Single-family homes priced for this market are still selling in about eight weeks. Price for October, not for last spring.
Fewer new listings are coming on (down 11% from a year ago), so a well-prepared home stands out.
On a townhome or condo, plan for two months or more on the market and expect buyers to ask for concessions. Your first two weeks of showings are your best chance, so price for them.
Months of supply is homes for sale at the end of the month divided by homes sold that month. "A year ago" compares September 2026 with September 2025; year-ago counts are calculated from the percentage changes in the report. Payment math assumes 10% down, 30-year fixed, principal and interest only. Utah is a non-disclosure state; no individual sale price appears on this page.
