Relocating is a chance to put down new roots. When your Clients move into a David Weekley home, they can rest easy knowing that every detail will be just as they dreamed — both with their home and with their experience. Their Sales Consultant, Personal BuilderSM and Design Consultant will guide them through every step of the journey, and our industry-leading Warranty will ensure that your Clients are taken care of long after closing. With regular Team calls and their own personal website, your Clients will be kept up-to-date whether they’re across the country or around the corner. That’s The Weekley Way!
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President Claire Larson Woodside Homes of Utah LLC
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Russ Orchard Century 21 Everest
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Linda Mascher Realtypath LLC (Advisors)
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OFFICIAL PUBLICATION OF THE SALT LAKE BOARD OF REALTORS ®
REALTOR is a registered mark which identifies a professional in real estate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS
Together, We Make a Difference
What Sets a REALTOR® Apart from a Real Estate Agent?
As members of the National Association of Realtors® (NAR), we take pride in upholding the highest standards of professionalism and ethics in the real estate industry. While all real estate agents assist clients in buying and selling properties, not all are Realtors®. The key distinction lies in our commitment to the NAR Code of Ethics—a guiding framework that ensures integrity, transparency, and excellence in service.
Being a Realtor® comes with great responsibility. As we step into a new year, it is the right time to reflect on the principles that define our profession and set us apart in the industry.
Commitment to Clients
One of the fundamental aspects of being a Realtor® is our unwavering duty to clients. We prioritize their best interests while maintaining fairness and honesty in all transactions. Transparency is critical—misrepresentation, exaggeration, or withholding crucial information is strictly prohibited. We also emphasize cooperation and collaboration, working alongside other professionals to achieve the best outcomes for our clients. Professional integrity is at the core of everything we do. If a Realtor® has any personal interest in a transaction, it must be disclosed upfront. Similarly, any potential conflicts of interest must be addressed transparently.
Responsibility to the Public
Beyond our obligations to clients, we also have a duty to the public. Realtors® serve all clients equally, regardless of race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. We operate within our area of expertise, ensuring that we provide accurate information and seek assistance when necessary. Honesty in marketing and communications is non-negotiable, and we strictly avoid unauthorized legal practices. We also actively participate in ethics investigations and enforcement proceedings to uphold industry integrity.
Professionalism Among Peers
Our commitment extends to our colleagues as well. Professional courtesy is essential, which includes refraining from making false or misleading statements about fellow professionals. We respect existing representation agreements and strive to resolve disputes through mediation and arbitration whenever possible.
Every interaction—whether with clients, fellow agents, or industry affiliates—reflects not just on us as individuals but on the entire Realtor® community. Each moment presents an opportunity to reinforce trust, demonstrate expertise, and uphold the ethical standards that define our profession.
When one of us excels, we all benefit. When standards slip, the entire industry is impacted. By embracing the Realtor® Code of Ethics in everything we do, we continue to make a meaningful difference in our profession and the communities we serve. Together, we make a difference.
Claire Larson President
The Salt Lake Board of REALTORS® is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support the affirmative advertising and marketing program in which there are no barriers
Happenings
In-Movers to Utah
In 2023 (most recent data available), Utah welcomed 90,865 new residents, with a significant portion coming from California, according to an Oct. 17 Census Bureau report. Nearly 11,000 Californians chose Utah as their new home in 2023, making California the top source of inbound migration. Texas followed in second place, contributing 9,731 new Utah residents, while Arizona ranked third with 5,766 newcomers. Notably, the number of Californians moving to Utah has slowed. In 2021, more than 23,000 Californians made the move—more than double the figure recorded in 2023.
Sales of Million-Dollar Homes Skyrocket
The Wasatch Front luxury housing market is booming. Sales of homes priced at $1 million and above have surged. Last year, 1,967 homes were sold in this range—more than four times the number sold in 2019. Nationally, sales of million-dollar homes have been on the rise. As of August 2024, a record 8.5% of U.S. homes were valued at $1 million or more, nearly doubling from approximately 4% before 2020. This increase is attributed to a combination of factors, including a tight housing supply driving up prices and a surge in demand for high-end properties.
In the News
Selling Homes in High-Risk Areas
The concept of a “disaster discount” may be emerging in the U.S. housing market as homes in high-risk areas—prone to floods, wildfires, and extreme heat—appreciate at a slower rate than safer properties, according to The Wall Street Journal. While the difference remains small, rising insurance costs are making it harder for buyers to ignore climate-related risks. Insurers are repricing policies due to significant losses, and new regulations are allowing reinsurance costs to be passed onto homeowners, further driving up premiums.
In areas like California’s Pacific Palisades, insurance costs are expected to rise 11% annually for a decade, while flood-prone Grand Isle, Louisiana, now sees average insurance premiums near $11,000 a year. Higher insurance costs should theoretically reduce home values, but buyers struggle to determine appropriate discounts due to regulations that suppress full risk pricing and crosssubsidization by insurers.
Greater transparency is starting to influence home prices. In California, homes flagged for wildfire risk sold for 4.3% less, and Florida now requires flood risk disclosure. However, clearer risk data isn’t welcomed by all— homeowners and real estate agents worry it could reduce property values and hinder sales.
Despite this, housing market conditions still favor sellers, with only 3.3 months of supply available. Buyers typically gain negotiating power when supply exceeds six months. However, mortgage lenders incorporating full insurance costs into affordability tests could make disaster-prone homes even less accessible. As insurance costs continue rising, selling homes in high-risk areas may become increasingly difficult.
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Claire Larson — Beating Illness, Embracing Change, and Building a Future
2025 President of the Salt Lake Board of Realtors® Principal
Broker, VP of Sales and Marketing, Woodside Homes Utah
1. What made you choose a career in real estate? A seed was planted when my family moved from Beirut, Lebanon, to the United States. Homeownership was my parents’ dream. While attending the University of Utah, I had the opportunity to work as a receptionist/secretary for one of the top real estate brokerages. I watched these professionals make a difference in people’s lives and the industry. I wanted to help families like mine achieve the dream of homeownership and positively impact others.
2. Talk about the first house you sold. I remember it clearly! I was nervous because I wanted to ensure every detail was perfect. It was a “floor call.” We used to rotate taking calls in the office, and I helped a couple purchase a condo in the Murray area. I still drive by and reminisce about how that felt. They initially didn’t think they could
buy a home, and they were nervous, but once they moved in, they were so happy and grateful. That was an incredible feeling.
3. You were born and lived in Beirut, Lebanon, for the first 10 years of your life. What do you remember about your childhood? Lebanon is a beautiful country, but I grew up during its civil war. My family lived in a small apartment in the middle of the city, always surrounded by family. There was always something to celebrate. It was common for people to visit each other’s homes without notice. Instead of “snow days,” we had days off due to war and civil unrest. We would go to the basement and hunker down until there was a ceasefire, then return to school the next day as if nothing had happened. Resilience was and still is essential for those living in civil unrest daily.
I visited Beirut in 2014 for a wedding and reflected on my parents’ bravery in leaving behind their family, work, church, language, and homeland for a better life. I am so grateful and proud to be an American!
4. Why did your family immigrate to Utah? We had relatives in Utah. My aunt and uncle were able to sponsor us into the country. My dad found a job, we rented a house near family, and we eventually took classes to become U.S. citizens. I started school in the U.S. as a fourth grader and learned English that year. It’s incredible how quickly you learn a language when you have no other choice!
5. What obstacles and adversities have you faced in your life? How did they shape you? On a personal level, moving to a new country, learning a new language, and making new friends were significant challenges. I learned early on to stay positive and not dwell on difficulties, which helped me adapt quickly. As the oldest of three children, I felt responsible for figuring things out. I was the first in my family to pursue higher education, and I had to navigate the college process on my own.
In 2000, I was diagnosed with heart failure. Imagine being in your late 20s, having the best year in your real estate career, teaching aerobics, and finishing your last semester of college—then experiencing cardiac arrest and hospitalization. I was shocked but determined to finish my finals and return to my clients. For 16 years before receiving a new heart—the gift of life—I kept getting back up and moving forward. Last year, I was diagnosed with Stage-4 non-Hodgkin’s lymphoma. I knew that God had helped me through previous challenges and would again. Thanks to many prayers and my faith, I received a clean bill of health in October 2024. I am truly blessed. These experiences reinforced my belief in maintaining faith, staying positive, and continuing forward.
In our industry, significant shifts have also shaped me. After 9/11, the world paused in disbelief, but we adapted and moved forward. In 2009, the real estate downturn was devastating, and as the broker and vp of sales for a builder that went from closing 900 homes to 300, I witnessed heartbreaking layoffs. However, I knew that to keep others employed, I needed to stay positive
and keep pushing forward. Shifts happen, but what you do during them shapes your future.
Through all of this, I’ve learned that mindset is more powerful than circumstances. Stay focused on the task ahead, take it one day at a time, and aim to improve by 1% daily. Resilience, adaptability, and a positive mindset—GRIT!
6. What advice would you give to a new Realtor®?
• Get involved in the industry.
• Knowledge is power. Take CE courses, attend open houses, and hold open houses for others in your office.
• Network, collaborate, and communicate.
• Surround yourself with successful people.
• Be genuinely curious about your buyers, sellers, and their goals.
• Ask your broker, colleagues, or mentors how they succeed.
• Create a business plan and set SMART (Specific, Measurable, Attainable, Realistic, Timely) goals, both short- and long-term.
• Be genuine and authentic.
• “Give up tomorrow, not today.” You are one step closer to success—just don’t give up!
7. What’s your favorite part of being a Realtor®?
Building relationships and making a difference in people’s lives. Always being busy! When the market is hot, you’re busy; when it’s slow, you’re busy generating business. The opportunity to continually learn, grow, and improve.
8. What is your vision as the 2025 President of the Salt Lake Board of Realtors®? Stay focused on the “job to be done.” Prioritize clients and uphold fiduciary responsibilities despite distractions. Improve Realtor® culture. We are competitors, but we also rely on each other for industry success. Let’s be true professionals and rise above the chatter. Maintain our Board’s reputation. The Salt Lake Board of Realtors® is seen as a shining star nationwide. Let’s uphold professionalism and integrity.
9. What service organizations do you support? HomeAid (Diaper Drive and Life Start Village), Donor Connect (advocating for organ donation), The Gail Miller Resource Center (Road Home), and the American Heart Association (raising awareness for the No. 1 killer of women)
10. What attributes and skills make a successful Realtor®?
• Resilience
• Treating it as a business
• Continuous improvement
• Positive attitude
• Adaptability
• Curiosity
• Grit!
11. What are your interests and hobbies outside of real estate? I love traveling—especially to offthe-beaten-path, non-touristy locations. One of my favorites is Providencia in Colombia—absolutely beautiful! I also enjoy outdoor activities like running, hiking, kayaking, rafting, horseback riding, chasing lighthouses, and reading.
12. What is the solution to Utah’s housing shortage? We need to build more homes. Solutions include: Selling government-owned land at reduced prices for owner-occupied housing, streamlining approvals for development, entitlements, and permits, converting underutilized parking lots into mixed-use housing, and allowing higher-density developments in urban areas.
13. What can Realtors® improve on? Realtors® need to engage in local government and zoning discussions, contribute to the Realtors® Political Action Committee, and advocate for responsible development.
14. What has the real estate profession taught you about yourself? I have grit! I can adapt, grow, and drive change by leading by example. Let’s thrive in 2025 and embrace “PRONOIA”—the belief that the world is conspiring in our favor!
How Home Sellers Can Use Concessions to Get to Closing
Sellers must differentiate themselves in today’s market given the current inventory levels.
By Eliana Block
As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.
“With where interest rates are, buyers can be deterred if they don’t feel like they’re getting some kind of deal,” said Cooper Thayer, ABR, broker-associate at Keller Williams Action Realty in Denver. “We’re definitely advising sellers that they can expect to offer a concession to help a buyer get into their home specifically—if it’s not a super-hot product.”
What Are Seller Concessions?
A concession is when the seller covers certain costs associated with the purchase of the home. Concessions can make homeownership more accessible for buyers by reducing upfront costs. Seller concessions are often used in markets where buyers have more negotiating
power or when the seller needs to stand out in a competitive environment.
Real Examples of Seller Concessions in Action
NAR data found that “given buyer demand and lack of housing inventory,” only 24% of sellers nationwide offered a concession in 2024, down from 33% the previous year.
While the 2025 housing market remains to be seen, several signs point to a healthier outlook: both pending home sales and existing-home sales jumped in November and there are more homes on the market compared to a year ago.
“Sellers do have to differentiate themselves in the market now with the levels of inventory that we’re at,” Thayer said.
In late 2024, NAR published a one-page resource on seller concessions, which is part of a series of Consumer
Guides that NAR provides at facts.realtor. The consumer guides address many aspects of the homebuying and selling process as well as the real estate practice changes that went into effect last August. NAR members can share the guides directly with their clients.
Concessions can cover a wide range of costs, like those associated with a title search, home repairs or fees for real estate agents and appraisers. Closing costs were the most common concession in 2024, NAR data showed. That makes sense in markets with a high volume of firsttime buyers, like Salt Lake City, where the median age of residents is 33.
“First-time home buyers are huge in our area,” Scott Robins, an associate broker at Summit Sotheby’s International Realty in Salt Lake City, said. “We have two universities in downtown Salt Lake City. We have four additional universities within an hour drive. If I’m working with a first-time home buyer, it’s almost given that they are going to need some help with concessions.”
He said those in their late-20s and early-30s “typically have their down payment, but they don’t have all of their closing costs.”
Robbins said 2-1 buydowns as a seller concession are popular. Essentially, the seller will pay to reduce the buyer’s mortgage rate by two percentage points for the first year and one percentage point for the second year. After those two years of monthly savings, buyers are on the hook for their agreed upon mortgage rate.
“The place where concessions or rate buydown offerings are really being successful right now is with new construction,” Thayer said. “We’re seeing builders utilize those kinds of incentives a lot more because they have the ability to, one, hold on to their inventory longer, and two, do a better job at marketing those incentives. They’ve got a little bit more marketing purchase power than the average [real estate broker or agent] has.”
Home repair credits are also common. Most buyers want a turnkey home, Thayer said, “so those concessions are a useful tool, but they’re definitely not the end-all, be-all.”
Marlene Llamas Leon, ABR, CIPS, of LPT Realty in Miami recalls a recent deal on a large estate in which her sellers chose to make a concession.
“What came up in the inspection were six roof leaks that [the sellers] had no idea they had, and the new roof for the home was $120,000,” she said. “So, that was definitely something that [if this transaction had fallen through] we would have had to disclose, and it would have been a turnoff for any buyer that would have walked in next. These sellers were very proactive, thank goodness. Once I spoke to them, they completely understood, and they said, ‘Please leave it up to the buyer. Do they prefer a credit or a price reduction?’”
The buyer went with a price reduction.
In general, Thayer advises his sellers to make repairs before putting their homes on the market.
“That is really the best strategy that we’ve seen ... to really differentiate your home as much as possible so we don’t have to start talking about concessions and really minimize what may come up in an inspection objection,” Thayer said.
Eliana Block is a business writer for Realtor® Magazine.
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New Homes Are Getting Smaller. Are Buyers Looking for Less Square Footage?
According to Census data, the median square footage of new single-family units peaked in 2015 at 2,466 square feet and dropped to 2,177 in 2023.
By Eliana Block
When it comes to what home buyers want, detached single-family homes continue to be a hot commodity. And while buyers are looking for larger properties, it’s not a whole lot more than what they currently have, according to the National Association of Home Builders.
In 2023, home buyers had a median of 1,802 square feet in their current home and wanted a median of 2,067 square feet, NAHB found in the latest edition of its “ What Buyers Really Want ” survey. That’s about 200 square feet—the size of a 14-by-14 bedroom—less than what they wanted two decades ago.
“Among the possible explanations behind the shift in size preferences are high home and land prices and the desire to save on heating and cooling costs,” NAHB’s report said. The association found that 35% of buyers would be willing to take a smaller home in exchange for a better price and were most willing to compromise on space for a home office or dining room. The median size of newly constructed homes is also shrinking to match that demand.
Aside from the sticker shock of larger homes, changes in household composition could also be driving down the size of homes, said NAR Deputy Chief Economist Jessica Lautz.
“We know that there are more single households and single home buyers than we have seen historically— about a third of recent home buyers are single, so they may need or desire a smaller property,” Lautz said. She added that the number of households with children is at an all-time low. “So, they may not need that threebedroom, two-bath home. They may really want a twobedroom, one-bath home, and that’s not necessarily the inventory that’s out there. So, home builders are starting to be attuned to that and building smaller properties where they can.”
While some might be quick to pin the trend on an aging demographic looking to downsize, the numbers don’t support that notion.
“For 55- to 74-year-olds, they are ‘downsizing’ 100 square feet—if we can even consider that fully downsizing,” Lautz said. “That’s almost a one-to-one trade. And then for those 75 years and older, they’re downsizing 200 square feet.”
According to Census data, the median square footage of new single-family units peaked in 2015 at 2,466 square feet and dropped to 2,177 in 2023.
In the western part of the country, the size of new builds peaked in 2014 and dropped 370 square feet in 2023. Randy Ginn, a broker with NW Builders Group, a part of Windermere Real Estate, in Bellevue, Wash., said that’s generally not the direction builders want.
“What’s happening is jurisdictions [in the Seattle region] are imposing rules and lot coverage restrictions,”
Ginn said. “Effectively, what’s happening is the cities are preserving more trees. They’re preserving larger setbacks. They’re shrinking the amount of lot that we can cover with a new house, and the builders, therefore, are being forced into smaller houses. They don’t want to build smaller houses, and quite frankly, the market doesn’t necessarily want smaller houses.”
Ginn works primarily in new construction and said he believes local policies, like tree ordinances, are impacting home sizes more than a shift in house hunters’ preferences.
“In my experience, everybody is trying to buy as big of a home as they can afford in their comfort zone,” Ginn
said. “I rarely have people come in saying, ‘I want to get the smallest house out of the group.’ If you look at the average deal we do and the average loan, they’re buying 95% of what they can afford and, in most cases, 100%.”
When compared to new builds, NAR data shows previously owned homes purchased in 2024 were slightly smaller, at about 1,800 square feet.
That makes sense, Lautz said, because generally, existing homes in the market today were built during a time when properties were smaller. The typical home bought in 2023 was built in 1985, and the typical home bought in 2024 was built in 1994.
While homes are measured in square footage, there is a lot of space that isn’t counted in that measurement, such as unfinished basements, garages and pools.
During the COVID-19 pandemic and the early days of lockdown, many homeowners took comfort in the freedom to enjoy their own private outdoor sanctuaries on their porches, decks or in their gardens.
Ginn agrees that the feeling of openness comes in different forms, giving an example of a 3,500-squarefoot home with flat ceilings throughout the first floor, or a house that’s 3,200 square feet with a 20-foot ceiling and tall windows.
“Space is a lot more important than square footage to a lot of buyers,” he said.
So how much space do you need to call home? That’s in the eye of the beholder.
Eliana Block is a business writer for REALTOR® Magazine. She can be reached at eblock@nar.realtor.
NAR Opens Applications for 2025 Good Neighbor Awards
More than 70% of Realtors® volunteer in their communities – three times the rate of the typical American.
By The National Association of Realtors®
The National Association of Realtors® announced the opening of applications for its 2025 Good Neighbor Awards. The program honors real estate agents who demonstrate exceptional dedication to volunteer service and have lasting impacts on their communities.
“The Good Neighbor Awards represent the best of who we are as Realtors®,” said NAR President Kevin Sears, broker-associate of Sears Real Estate/Lamacchia Realty in Springfield, Massachusetts. “Every year, we’re inspired by the stories of members who go above and beyond to create enduring, positive change. This program is our way of celebrating their extraordinary commitment to service.”
Five winners will each receive a $10,000 grant for their nonprofit organization and be honored in November at NAR NXT, The REALTOR® Experience, in Houston, Texas. Additionally, five honorable mentions will each receive a $2,500 grant.
Since its launch in 2000, the Good Neighbor Awards have recognized more than 250 Realtors® for their volunteer efforts, contributing more than $1.5 million to Realtor®led nonprofit organizations. Past winners have impacted communities across 43 states and Puerto Rico, as well as 17 countries worldwide. According to the 2024 NAR Member Profile, 70% of Realtors® volunteer in their communities –three times the rate of the typical American.
“Realtors® nationwide continue to step up to support their communities when and where help is needed most,” said Realtor.com® Chief Marketing Officer Mickey Neuberger. “These heroes inspire all of us to give back, and that is why we are proud, once again, to be the primary sponsor of the Good Neighbor Awards.”
In addition to sponsoring the Good Neighbor Awards, Realtor.com® recently donated $50,000 to the REALTORS® Relief Foundation and helped raise additional funds to support those affected by the Southern California wildfires.
Applications for the 2025 Good Neighbor Awards must be submitted by April 18, 2025. To be eligible, nominees must be an NAR member in good standing and should have made a significant impact as a volunteer for a 501(c)(3) nonprofit organization. Nominees are chosen for the award based on their community impact through volunteer work. For additional details, judging criteria and to apply, visit nar.realtor/gna or call 800-874-6500.
About the National Association of REALTORS®
As America’s largest trade association, the National Association of REALTORS® is involved in all aspects
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of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®
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Realtors® Relief Foundation Awards $1 Million Grant to California Wildfire Victims
The Realtors® Relief Foundation has been a lifeline for communities affected by disasters.
By The National Association of Realtors®
The Realtors® Relief Foundation announced a $1 million grant made available to the California Association of Realtors® to provide disaster relief support to families affected by recent wildfires in Southern California. Impacted families will soon be able to apply for relief through the California Association of Realtors® website at www.car.org/difference/realtorscare.
“Agents who are Realtors® deeply understand that in times of crisis, we step up to help our communities remain resilient and united, even in the face of devastation like what we’re witnessing in Southern California,” said RRF President Greg Hrabcak. “This grant underscores RRF’s dedication to providing assistance during the critical weeks and months following a disaster, and we are committed to helping families stay in their communities and begin to rebuild their lives.”
All donations to RRF made through Feb. 7 will go toward those impacted by the California wildfires. The National Association of Realtors® covers 100% of RRF’s administrative costs, so every dollar donated goes directly to disaster relief efforts.
For more than 24 years, the Realtors® Relief Foundation has been a lifeline for communities affected by disasters, providing housing-related assistance. Since 2001, the foundation has distributed more than $43 million in aid, helping more than 25,000 families nationwide.
When a major disaster occurs, RRF mobilizes its outreach efforts and turns to NAR members and other constituents for support. Learn more about RRF at www. rrf.realtor.
About the REALTORS® Relief Foundation
RRF is a 501(c)(3) nonprofit that exists to provide financial housing assistance to the public after disasters. In its 24 years of existence, more than $43 million in aid has helped more than 25,000 families. RRF is supported generously by the Realtor® organization family. Local and state Realtor® associations partner with RRF as they mobilize Realtors® in their locale to assist those in need. NAR covers all administrative costs allowing 100% of donations to be used for disaster relief.
About the National Association of Realtors®
As America’s largest trade association, the National Association of Realtors® is involved in all aspects of residential and commercial real estate. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.
How the Salt Lake Board of Realtors® Supports Candidates in 2025 Elections
The majority of local RPAC contributions—72%—supported non-partisan races for mayor and city council.
By Marcus Jessop
The 2025 election is a pivotal one for Salt Lake County, with every city mayoral position—except those in West Jordan, Millcreek, and Salt Lake City—and half of the city council seats up for grabs. Many Realtors® have inquired about the process for allocating Realtors® Political Action Committee (RPAC) funds and the partisan breakdown of these elections. This year, we have identified 55 races, none of which are partisan (Republican or Democratic).
Election Subcommittee
Within the Government Affairs Committee of the Salt Lake Board of Realtors®, a Realtor®-led Election Subcommittee interviews candidates for municipal office across the Salt Lake Valley. In busy election cycles like 2025, the subcommittee conducts over 50 interviews, each lasting 20 minutes, at Realtor® Campus in Sandy. These interviews focus on real estate-related
topics such as ADUs, affordable housing, and property rights, as well as candidates’ campaign strategies.
RPAC Trustees Committee
Following the interviews, the subcommittee recommends funding allocations to the RPAC Trustees Committee, which consists of board directors and appointed Realtors®. This committee determines contributions, with checks sent to selected candidates. Their sole focus is on candidates’ stances on real estate issues, regardless of party affiliation or other political positions. As we often say, when making contribution decisions, we consider policy, not politics.
Candidates Selected
From 2021 to 2024, the Salt Lake Board of Realtors® invested in more than 100 candidates across Salt Lake County. Most of these contributions—72%—supported
non-partisan races for mayor and city council. The only partisan candidates we support are those running for Salt Lake County government positions, including county mayor, council, and offices such as recorder, treasurer, and assessor. Of the funds allocated to these races, 11.4% supported Republicans and 16.5% supported Democrats.
Our Realtors® take pride in being truly non-partisan, and our contributions reflect that commitment.
Marcus Jessop is government affairs director for the Salt Lake Board of Realtors®.
Home sales in December climbed to 913 units sold in Salt Lake County, an increase of 11% compared to 821 closings in December 2023, according to UtahRealEstate.com. Sales in 2024 ended at 12,321 units sold, up 6.77% compared to 11,540 total sales in 2023. Despite the increase, sales remain sluggish because of higher mortgage interest rates. In fact, annual sales in Salt Lake County are at a 13-year low.
If mortgage rates were to fall to 6% in 2025 it could open homeownership to 6.2 million more prospective buyers compared to rates at 7%, according to the National Association of Realtors®. The 30-year fixed-rate mortgage averaged 6.96% as of Jan. 23, 2025. A year ago at this time, the 30-year FRM averaged 6.69%.
The median sold house price (all housing types) in December increased to $535,000, up 8.74% from $492,000 in December 2023 in Salt Lake County. Single-family home prices reached $592,500, up 5.52% from $561,500 a year earlier. Multi-family home prices rose to $436,500, up 6.72% from $409,000 in December 2023.
Under contract listings increased to 1,067 in December, up 4.92% from 1,017 a year ago. The typical Salt Lake County home was on the market for 42 days in December, up from 35 days a year earlier.
Nationally, total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – rose 2.2% from November to a seasonally adjusted annual rate of 4.24 million in December. Year-overyear, sales swelled 9.3% (up from 3.88 million in December 2023), according to NAR.
“Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” said NAR Chief Economist Lawrence Yun. “Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market.”
In December, existing-home sales in the West rose 2.6% in December to an annual rate of 790,000, up 12.9% from a year ago. The median price in the West was $614,500, up 6.0% from December 2023.
“Home sales in the final months of the year showed solid recovery despite elevated mortgage rates.”
