Market Updates

October 27, 2026

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Hey St. George! Wondering what all the housing headlines mean for us here in Southern Utah? Here's the short version.

Mortgage rates are up from last year. But our local market is calm and balanced right now. Buyers have more choices, and prices are holding steady.

Here's what we're seeing this fall, and how to use it whether you're buying, selling or doing both.

The National Picture: Higher Rates, More Homes to Choose From

Let's start with rates. Freddie Mac's latest weekly survey shows the 30-year fixed averaged 7.24% as of October 29, 2026. That's down from 7.32% the week before, but still above the 6.17% of a year ago. The 15-year fixed averaged 6.60%, down from 6.68% the week before (5.41% a year ago).

Nationally, the National Association of REALTORS® reported that existing-home sales ran at a 3.99 million annual pace in September. That's up 1.5% from August and down 2.2% from a year earlier.

Inventory: 1.60 million homes, a 4.8-month supply
National median price: $417,500, up 1.3% year over year

NAR's chief economist, Lawrence Yun, put it simply: higher inventory and longer days on market "give buyers improved negotiating power."

One policy item worth watching: the 2026 conforming loan limit (the biggest loan Fannie Mae and Freddie Mac can buy) is $832,750 for a one-unit home in most of the country. FHFA hasn't announced the 2027 limit yet. It's expected in late November and takes effect January 1.

Some lenders are already working with estimated higher limits. Those numbers aren't official, though. We suggest asking your lender which limit applies to you.

What's Happening Here in Washington County

Our local numbers tell a steadier story. Here's the Utah Association of REALTORS® September 2026 Local Market Update for Washington County:

Median sales price: $499,495 in September, down 3.6% from $518,000 a year ago. Year to date, the median is $524,900, essentially flat (-0.0%) with 2025.
Inventory: 2,355 homes for sale, up 12.8%. That's a 6.0-month supply (up from 5.5).
New listings: 695, up 15.4% from last September.
Days on market: 70, down from 79 a year ago.
Closed sales: 357, up 2.9%.

Zoom in on St. George itself and the other big data sources agree.

Realtor.com's October 2026 snapshot shows 1,342 active listings, a median of 67 days on market, and homes selling about 2.26% below asking on average.
Redfin's data for the three months ending September 2026 shows a $532,247 median sale price, down 3.2% year over year, with homes selling at about 98% of list price.

Each source measures things a bit differently, so the numbers won't match exactly. We'd treat them as directional, not gospel. They all point the same way, though: more choices, stable prices and room to negotiate.

What It Means for Buyers

You've got options and time. With about six months of supply in the county, you can compare homes without feeling rushed.
Negotiate beyond price. Homes are selling a bit under asking. So it's worth asking about seller-paid closing costs or a rate buydown.
Get pre-approved first. Rates are moving week to week. Knowing your real budget, and which loan limit applies to you, makes your offer stronger.

What It Means for Sellers

Your equity is holding. The county's year-to-date median is flat with last year, so values have stayed steady.
Price it right from day one. Buyers have more listings to choose from. The homes priced to the market are the ones that sell.
Presentation matters. Clean, well-photographed, move-in-ready homes stand out when buyers are comparing a ton of options.

Why We Love Being Here

Part of what makes Southern Utah special is how much there is to do once you're settled in.

On November 14, the City of St. George's Snow Canyon Half Marathon, 10K, 5K and Fun Run runs through Snow Canyon State Park.

Then the holiday season kicks off with Intermountain Health's Jubilee of Trees, November 18–21 at the Dixie Convention Center. It's in its 43rd year, and it raised $1.5 million for St. George Regional Hospital last year.

That kind of community is a big reason people choose to call this place home.

Bottom Line

The market is a moving target, and averages only tell part of the story. Every situation is different.

Thinking about buying or selling in St. George or anywhere in Southern Utah? Let's talk. We're happy to walk you through what these numbers mean for your neighborhood and your goals, with no pressure. Reach out to us here. We're here to help!