SALT LAKE CITY (KUTV) — Housing inventory in the Salt Lake City metro area has reached its highest level in at least a decade, with more than 4,000 homes listed for sale as properties take longer to sell and nearly one-third of sellers reduce asking prices.
The metro area had 4,030 active home listings in the month of October.
Homes spent a median of 63 days on the market, and nearly 32% of listings had a price cut.
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Inventory has reached its highest level in at least a decade, according to Nick Gerli, CEO of the housing analytics company Reventure…