Market Updates

November 06, 2026

Hey St. George! The National Association of REALTORS® just released its 2026 Profile of Home Buyers and Sellers. It covers deals from July 2025 to June 2026, and a few numbers jumped out.

First-time buyers are still a small slice of the market. Agent use hit historic highs. And more first-timers than ever are buying with cash, often with help from family wealth. Here's what that means if you're buying or selling in Southern Utah.

What the National Numbers Say

According to NAR's Nov. 5, 2026 release and Jessica Lautz's top takeaways:

First-time buyers made up 22% of purchases, up from last year's record low of 21%. Before 2008, that share was closer to 40%.
The median age of first-time buyers stayed at 40, an all-time high. Financed first-timers were typically 38. Cash first-timers were typically 54.
A record 10% of first-time buyers paid all cash. Among those, 28% used an inheritance, versus 9% of first-timers who financed.
90% of buyers and 92% of sellers used an agent, both historic highs. For-sale-by-owner sales held at about 5%, matching the all-time low.
Sellers had owned their homes a median of 12 years before selling, also an all-time high.

Jessica Lautz, NAR's deputy chief economist, put it plainly: affordability is still the biggest hurdle for first-timers. A generational wealth transfer is also starting to reshape who can buy a first home, and when.

Pair That With Rates and Our Local Market

One bright spot: Freddie Mac's Primary Mortgage Market Survey as of Nov. 5, 2026 shows the 30-year fixed averaged 7.18%, down from 7.24% the week before. The 15-year averaged 6.57%. That's the third straight weekly decline. A year ago the 30-year was 6.22%, so we're still higher than last fall, but the direction helps.

Here at home, the Utah Association of REALTORS® September 2026 report for Washington County (current as of Oct. 10, 2026) shows more room to shop than a year ago:

Inventory: 2,355 homes for sale, up 12.8%. That's a 6.0-month supply.
Median sales price: $499,495, down 3.6% from September 2025. Year to date, the median is essentially flat at $524,900.
New listings: 695, up 15.4%. Days on market: 70, down from 79 a year earlier.
Sellers received 95.9% of original list price on average.

More homes and balanced supply help buyers who felt locked out nationally. For sellers, pricing and presentation matter more than ever.

If You're Buying (Especially Your First Home)

Don't wait for a perfect national headline. Use the local advantages we have right now.

Get pre-approved at today's rate so you know your real payment.
Look hard at homes that have been sitting. That's often where the negotiating room is.
Ask about seller credits for closing costs or a rate buydown, not just a price cut.
If family help is part of your plan, talk to your lender early about gift-fund rules.

If You're Selling

Buyers are serious, and most want a professional in their corner. NAR found 92% of sellers used an agent, and FSBO stayed near its historic low of about 5%.

Our suggestion would be to price it right from day one, make the home easy to show, and be open to helping with buyer costs. With six months of supply in the county, overpriced listings sit. Well-priced ones still move.

Our Take

Bottom line, the national profile confirms what we see on the ground. First-time buyers are older and fewer. Repeat buyers with equity still drive a lot of activity. And people on both sides want experienced local help.

Rates eased a bit this week. Inventory here is healthier than last year. If you've been waiting for a calmer market, this is what it looks like. For more on timing, see our post on house hunting this winter.

Wondering what these numbers mean for your search or your home? Reach out to us here. We're here to help!