06/03/2026
The May 2026 Utah Housing Data is in....
Multi-unit properties (2+ units) are taking 83 days to sell so far in 2026.
A year ago it was 59.
That's 41% longer on the market, and it lines up with the rest of the data.
Closed sales are down and listings keep climbing.
The 2-4 unit slice, the duplexes, triplexes, and fourplexes, is softening fastest.
Closed sales there are down 11.8% year to date and the median price is off 6.3%.
Here's what I'm seeing on the broker side.
The deals that close are priced right on day one.
The ones chasing last year's number sit for three months and take a price cut anyway.
There's no pricing power in this part of the market right now.
If you own and want to sell, pull 90-day comps and price slightly below actives.
Set the market, don't chase the market down.
If you're a buyer with capital, you have time and leverage you didn't have a year ago.
Seller's are finally starting to accept the current market conditions.
Full breakdown, with the single-family numbers for contrast, in this week's Utah Investor Report: https://www.utahinvestorreport.com/p/monthly-market-update-may-2026