Q2 Market Report 2022 by Summit Sotheby's International Realty

2 0 2 2 QUA RT E R T WO

market report

table of contents 2022 QUARTER T WO MARKET REPORT

4 OVERVIEW

5 MAP

7 ALL AVAIL ABLE INVENTORY

9 PROPERTIES SOLD

11 TOTA L SO L D VO LUME

13 AV E R AG E DAYS O N M A R K E T

15 MO N T H S S U P P LY O F I N V E N TO RY

17 AVER AGE AND MEDIAN SOLD PRICES

market report

quarter two 2022

WELCOME TO SUMMIT SOTHEBY ’S INTERNATIONAL RE ALT Y ’S QUARTER T WO MARKE T REPORT.

This report reviews and compares Utah’s current and historical real estate market conditions for the Wasatch Front, Wasatch Back, Eastern and Southern Utah areas. US ECONOMY In quarter two the U.S. economy dropped by 0.9%, marking two consecutive quarters with contracting economy. Historically, two consecutive quarters of negative growth has been considered a recession, though this time economists are not so sure. The second quarter was marked by a decline in personal spending on goods, rising inflation, rate hikes, lingering supply-chain issues, a slowing in business inventories, lower business construction and broader concerns over the war in Ukraine. Quarter two also saw a strong labor market, with the unemployment rate reaching a low of 3.6%, something usually not associated with a recession. Inflation is now being clocked at 9.1% - a new 40-year high. Gas prices are driving much of the increase, up nearly 60% from a year earlier with the average topping $5 a gallon across the country. Shelter and food prices are also acting as major contributors. To curb inflation, the Fed raised interest rates another three-quarters of a percentage point - the fourth increase in five months. To avoid a full recession, economists are emphasizing the need to stay on a narrowing path to make a soft economic landing. US RE AL ESTATE MARKE T A fairly good amount of the US GDP is the residential housing market sitting at roughly 5%. Analysts and homebuyers now seem to be aware of a shifting market dynamic, including the prevailing expectation that borrowing costs will continue an upward trend. The 30-year fixed mortgage rate hit 5.81% this quarter, with additional rate hikes signaled by the Fed for later this year. The national median home sales price hit a record of $416,000 in June - a 13.4% increase from a year ago. While home prices continue to increase, there are indications that the pandemic-era frenzy is starting to cool. Home sales are also down 14.2% from the previous year. Higher mortgage rates, elevated home prices and an increased concern of recession are slowing the fast-paced real estate market we’ve seen in the last two years. Forward-looking national pending home sales data suggests that a further cooling of the market could be on the horizon. THE UTAH MARKE T Utah remains a magnet for inward migration, especially among other Western states, due to our quality of life and low cost of living compared to other areas of the country. Over the past two years, the demand from this migration caused the standing inventory of homes in Utah to be lower than usual. However, in quarter two, the Utah housing inventory increased, once again balancing our Utah market. Statewide inventory is at 10,947 - a 26.6% increase over the previous year. The median price for a Utah home is now $530,000 - a 7.8% increase from one year ago. The one-year average sales prices also continue to rise across the state. Along the Wasatch Front, the average sold price has increased by 15.6% in one year to $633,067. In Southern Utah, average home prices are up 20.2% in one year to $627,463. Prices along the Wasatch Back are up 2.2% to $1,725,369. In Moab, the average price is up at an astounding 60.5% to $741,091.

the areas

areas included in our quarter two report FARMINGTON PARK CIT Y SALT L AKE CIT Y HEBER CIT Y PROVO

WA S A T C H B A C K

counties: summit and wasatch

WA S A T C H F R O N T

counties: davis, salt lake and utah

E ASTER N UTA H

counties: grand

SOUTHER N UTA H

counties: washington and iron

MOAB

CEDAR CIT Y

ZION & SPRINGDALE ST. GEORGE

all available inventory

All Available Inventory

utah: january 2020 - june 2022

2020 16K

15K

14K

13,600 13,043

13K

1,528

12,553

1,663

1,395

12K

11K

11,555

13,199

1,482

12,468 11,851 1,668

11,136

1,596

1,497

10,720

1,431 1,386

10K

9,965 1,220

8,036

7,509

1,030

9,290

9,720

6,891

9,322

8,719

8,759

7,806

1,080

960

8,407

7,357

6,544 6,491

7,75

868

873

7,684 7,204

5,730

5,533 4,647

4,476

4,477

979

1,020

5,85

1K 0K

2,093

2,189

2,179

2,181

2,164

2,021

1,848

1,661

1,468

1,379

1,120

1,019

999

1,03

159

173

177

188

193

187

182

162

156

145

129

121

109

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

S U M M I T S OT H E BYS R E A LT Y.C O M

509

DEFINING ALL AVAIL ABLE INVENTORY This metric gives us a glance of the total amount of properties marketed for sale in Utah by month and geographic region, starting with January of 2020 and running through the end of Q2 2022.

2021

2022

For Sale - Wasatch Back

For Sale - Wasatch Front

For Sale - Southern Utah For Sale - Moab

10,947 971

9,580 8,656 7,758 782

7,913

9,027

826

9,629 9,099 9,145 724

867

749

661

8,135

7,947

867

7,424

593

820

576

533

5,973 513 7,149 6,709

6,738

502

8,208

491

6,215

5,920

5,892

1,074

6,169

7,334

5,627 4,292

1,030

5,812

6,879

6,464 5,856

613

1,202

1,330

1,497

1,532

1,505

1,374

1,126

4,277

1,010

4,507

1,127

1,173

1,241

1,482

1,693

127

123

121

108

105

100

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

rties Sold" includes any property listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby's. Data is aggregated from three ummit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. "Eastern Utah" includes Emery, Grand, San Realty Affiliates, Inc. All Rights Reserved. Sotheby's International Realty® is a licensed trademark to Sotheby's International Realty Affiliates, Inc. An Equal Opportunity Company. Each Office Is

q2 market report | P A G E 7

properties sold

Properties Sold

utah: january 2020 - june 2022

2020 5,136 291

5000

4,713 4,728

4,567 4500

333

183

390

4,636 405

3,928 3,877

4000

313

3,8

382

3,480

3500

3,461

3,271

242

137

2,919

3000

100

2,752

4,122

132

2500

2,446

3,742

3,790

3,682

161

2,542

166

191

3,579

3,066

2000

2,658

2,939

2,9

3,018

2,638

2,638 2,419 2,250

1500

1,960

1,915

2,060

1000

500 346

359

487

391

453

580

698

629

639

632

530

455

377

417

552

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

S U M M I T S OT H E BYS R E A LT Y.C O M

DEFINING PROPERTIES SOLD This metric calculates the number of properties sold, by month, broken down by Utah’s four key geographic regions: Wasatch Front, Wasatch Back, Southern Utah and Eastern Utah.

2021

# Sold - Wasatch Back

# Sold - Wasatch Front

# Sold - Southern Utah # Sold - Moab

4,233 262

3,832 286

263

4,013 245

3,837 260

3,526

3,695 241

3,637 206

3,712 238

3,434 207

2,381 3,198

2,982

3,263

3,068

2,865

3,004

2,934

449

536

193

3,446 198

3,300 195

2,532 195

2,949 2,703

1,818

544

3,370

190

3,421

3,960

191

2022

476

495

432

478

508

362

2,697

2,821

465

413

2,681

1,945

376

515

410

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

roperty listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby's. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, d Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. "Eastern Utah" includes Emery, Grand, San Juan, and Wayne Counties. Prepared By Summit Sotheby's International Realty. ©MMXXI ndependently Owned And Operated. Copyright© Summit Sotheby's International Realty 2021.

q2 market report | P A G E 9

total sold volume

TotalTotal SoldSold Volume Volume

utah: january 2020 - june 2022 2020

Wasatch Back

Wasatch Front

Southern Utah Moab

2020

Wasatch Back

Wasatch Front

2.48B 2.48B 2.49B 2.48B 2.45B

2.44B

Southern Utah

2.33B

Eastern Utah

413M

413M 620M

474M

1.15B 1.06B

138M

1.98B

200M

1.43B 1.38B

1.38B 143M

1.98B

143M

1.16B 122M

2.14B 620M 645M 645M 2.11B

2.11B

474M

509M

1.36B

1,734M

1,554M

881M

958M 881M

958M

1.47B

1.36B

1,612M 1,554M

1,594M 1,594M 1,612M 1,564M

290M

278M

1,734M 1,564M

1,345M

1,155M 1,053M

419M

290M

122M

538

553M

1.46B

95M

138M

1,053M

553M 509M

1.24B

186M

2.14B

2.00B

1.43B

95M

1.23B

2.3

2.34B

1,52

1,345M 1,377M

1,377M

1,289M

1,155M

885M

969M 885M

969M

738M

123M $8.4M

130M $4.1M

Jan

Feb

286M 262M 264M 283M 286M 245M 274 244M264M 262M 245M 217M244M 199M 200M 188M 217M 199M 180M 200M 172M 188M 150M 180M 172M 130M150M 6.9M$4.3M 3.9M$2.6M 6.4M$5.3M 3.6M$9.3M 7.1M$4.1M 13.2M$6.8M 8.9M$8.3M 9.9M$9.9M 10.3M$9.5M 13.0M$5.3M 11.8M$5.5M 8.6M$12.8M 7.4M$7.6 $3.1M

MarFeb AprMar MayApr JunMay Jul Jun Aug Jul SepAug OctSep NovOct DecNov Jan Dec Feb Jan MarFeb Ap

"All Available Inventory" is the cumulative total number of units that were on the market for sale during the calendar month, as opposed to units remaining available for sale at month end. "Proper three total different MLSofdatabases WCMLS) and was compiled month, on Aprilas 6, opposed 2022. Information not verifiable by Park of Realtors®. 'Wasatch Back' includes listings lis fro "All Available Inventory" is the cumulative number units that(PCBAOR, were on theWFMLS, market for sale during the calendar to units remaining available for City saleBoard at month end. "Properties Sold" includes anyallproperty San Juan, and not Wayne Counties. Prepared By Summit Sotheby's International Sotheby's International RealtyCounties. Affiliates, 'Southern Inc. All Rights Sotheby's International R WCMLS) and was compiled on July Grand, 10, 2022. Information verifiable by Park City Board of Realtors®. 'Wasatch Back' Realty. includes©MMXXI all listings from Summit and Wasatch Utah'Reserved. includes Washington and Iron Cou Sotheby's International Realty 2021. Sotheby's International Realty Affiliates, Inc. All Rights Reserved. Sotheby's International Realty® is a licensed trademark to Sotheby's International Realty Affiliates, Inc. An Equal Opportunity Company. Each Office Is Independen

S U M M I T S OT H E BYS R E A LT Y.C O M

DEFINING TOTAL SOLD VOLUME This metric calculates the total dollar amount of properties sold across Utah, month by month. Statewide and regional information is included, showing how the sales volume is dispersed between Utah’s diverse areas.

2021

2.57B

2.58B

434M

2.01B 1.98B

538M

271M 419M

2022

2.46B 2.45B 2.46B 2.42B 2.40B 2.43B 2.41B 2.38B 2.39B 2.35B 2.35B 442M 442M 2.30B 2.29B 2.30B 2.27B 2.25B 2.26B 402M 2.22B 479M

2.34B

538M

2022

2021

395M

434M 440M

395M

417M

1.99B

479M 386M

440M

365M

417M

348M

336M

365M

382M

271M

1.73B 1.61B

1.72B 1.61B

366M

1.47B

341M

1.36B

366M 341M

290M 278M

1,840M

1,840M 1,711M 1,524M

1,524M

89M

1,750M

1,470M 1,289M

1,679M 1,711M 1,750M 1,670M 1,670M 1,605M 1,634M 1,634M

1,605M

1,614M 1,670M

1,770M 1,668M 1,509M

1,470M

1,116M 969M

1,648M

1,046M

1,104M 1,042M

885M

322M 347M 292M 283M 274M 280M 274M 263M 297M233M 293M229M 3M 249M 274M 280M 274M263M 263M226M 263M 263M 257M 215M 233M 249M 226M 229M 200M 188M 214M

15.2M 17.6M 11.7M 14.2M 16.4M 17.3M 16.7M 8M8.6M $7.6M7.4M $10.7M $6.5M16.0M $11.8M $5.4M15.0M $7.6M18.7M $10.8M $10.6M $11.0M $6.5M16.0M $12.7M $6.3M8.9M $10.0M $12.0M8.6M $10.4M

ar JanApr FebMay MarJun Apr Jul MayAug JunSep Jul Oct AugNov SepDec Oct Jan NovFeb DecMar JanApr FebMay MarJun

e for sale at month end. "Properties Sold" includes any property listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby's. Data is aggregated from tch Back' includes all sold listings Summit and Wasatch Counties. Washington Iron Counties. 'Wasatch includes Davis, Salt Lake,from and Utah "Eastern Utah" includes Emery, ny property listed as for from the respective calendar month in the 'Southern respectiveUtah' MLS,includes and is not restricted and to properties sold by SummitFront' Sotheby's. Data is aggregated three Counties. different MLS databases (PCBAOR, WFMLS, erved. Sotheby's International is a licensed trademark toand Sotheby's International Realty Affiliates, Inc. Emery, An Equal Opportunity Company. EachCounties. Office Is Independently Owned Sotheby's And Operated. Copyright© Summit n and Iron Counties. 'WasatchRealty® Front' includes Davis, Salt Lake, Utah Counties. "Eastern Utah" includes Grand, San Juan, and Wayne Prepared By Summit International Realty. ©MMXXI e Is Independently Owned And Operated. Copyright© Summit Sotheby's International Realty 2021.

q2 market report | P A G E 11

average sold days on market

Average Days on the Market

utah: january 2020 - june 2022

313

320

300

280

260

240

220

196

200

201

195 189

180

187

160 147

155

120

111

100

101

100

50 40

77 53

53 39

109

139

138

134

125 116

101

97 85

55 50

45 25

40 26

38 26

32 27

38 28

30 29 25

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

2021 Mar

Feb

Dec

Jan

2020

Mar

140

Feb

151

Jan

160

Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in th Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not veriﬁable

S U M M I T S OT H E BYS R E A LT Y.C O M

DEFINING AVER AGE SOLD DAYS ON MARKE T This metric follows the amount of days a property is available for sale. In all areas, we see this average number in steady decline. Cash offers, efficient financing and robust buyer demand are driving forces in this trend.

ket

269

Sold Avg DOM - Wasatch Front

Sold Avg DOM - Southern Utah Sold Avg DOM - Moab

203

174

158

130

126 124 106

2022

29 22 17

40 20

31 21 18

Jul

Jun

55 41

May

52 34

Apr

62 58

Mar

Feb

Nov

Aug

Jul

36 18

Oct

Jun

Sep

Dec

May

Mar

84 66

Apr

Jan

Sold Avg DOM - Wasatch Back

t month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern not veriﬁable by the Park City Board of Realtors.

q2 market report | P A G E 1 3

mont hs supply of inventory

Months Supply of Inventory

utah: january 2020 - june 2022

Statewide - Utah 2020

Wasatch Front

Wasatch Back

15.8 13.3 9.5 7.0

6.5

4.2

2.0 1.7

1.7

3.1

2.1

2.3

2.4

2.7

1.0

1.9

2.0

1.9

0.9

1.6

1.9 1.4

1.2

1.1

1.0

Southern Utah

0.6 3.5

3.9

3.7

3.1 2.4 1.8

1.5

1.3

1.2

1.1

1.5

1.3

0.9

0.8

3.6

3.0

Jan

Feb

0.7

1.8

Mar

20.4

Moab

14.6

15.8 13.3

11.4

7.7

Jan

Feb

Mar

Apr

May

Jun

9.8

Jul

8.7

Aug

8.2

Sep

7.0

Oct

7.8

Nov

6.7

Dec

Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Data is aggr

month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' inc veriﬁable by the Park City Board of Realtors.

S U M M I T S OT H E BYS R E A LT Y.C O M

DEFINING MONTHS SUPPLY OF INVENTORY (MSI) This metric is defined by how long (in months) it would take to sell all available properties currently on the market. Generally speaking, anywhere from four to six months of inventory is considered balanced. With each of Utah’s key selling regions well below this range, sellers have a key advantage due to the lack of properties for sale given the current sales pace.

ory

2021

2022

5.7 1.9

2.0

1.8

1.5

1.6

1.9

1.4

1.1

1.7

1.3

1.9

1.7

2.4

3.4

2.2

1.2 0.7

0.9

1.1

1.2

1.1

1.3 1.0

1.0

0.9

0.8

1.0

3.5

0.8

1.8

Apr

1.2

4.2

May

1.4

1.6

1.8

2.0

1.9

2.2 1.7

1.6

6.0

Jun

1.4

1.9

2.5

2.6

2.1

2.5

Jul

Aug

Sep

Oct

Nov

Dec

1.4

1.3

3.7

4.2

Jan

Feb

1.3

3.4 Mar

1.7

2.5 Apr

4.7

May

7.1

Jun

Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that rn Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not

q2 market report | P A G E 1 5

average & median sold price wasatch front

15.6%

O N E -Y E A R C H A N G E I N T H E AV E R AG E S O L D P R I C E

Average & Median Sold Prices Wasatch Front

1 Year Chg in Avg Sold Price:

15.6% $622,067

Avg Sold $ - Wasatch Front Median Sold $ - Wasatch Front

600K

$575,622

$537,953

550K

$540,500 500K

$451,621

$499,900

450K

$465,000

$410,021 400K

$385,401 $393,500

350K

$364,778

Jul

Jun

May

Apr

Feb

Mar

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

2022 Apr

Feb

Mar

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

2021 Apr

Feb

Mar

Jan

Dec

2020

Jan

$344,000

Data is aggregated from the WFMLS, and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. "Wasatch Front" includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty.

S U M M I T S OT H E BYS R E A LT Y.C O M

average & median sold price wasatch back

2.2%

O N E -Y E A R C H A N G E I N T H E AV E R AG E S O L D P R I C E

Average & Median Sold Prices Wasatch Back

1 Year Chg in Avg Sold Price:

2.2%

2.1M 2.0M

Avg Sold $ - Wasatch Back Median Sold $ - Wasatch Back

1.9M 1.8M

$1,796,376

1.7M

$1,725,369

1.6M

$1,688,710

1.5M 1.4M

$1,454,624

$1,287,500

1.3M

$1,156,303

1.1M

$1,118,240

$1,092,172

1.0M

$1,000,000

0.9M

$720,000

Jul

Jun

May

Feb

Mar

Jan

Dec

Nov

Oct

Sep

Jul

Aug

Jun

May

2022 Apr

Feb

Mar

Jan

Dec

Oct

2021 Sep

Aug

Jul

Jun

Apr

Mar

Feb

Dec

Jan

2020

0.6M

$805,000

$752,500

Nov

0.7M

May

0.8M

Apr

1.2M

Data is aggregated from the PCBAOR, and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. "Wasatch Back" includes all listings from Summit and Wasatch Counties. Prepared By Summit Sotheby's International Realty. Information not veriﬁable by the Park City Board of Realtors.

q2 market report | P A G E 1 7

average & median sold price southern utah

20.2%

O N E -Y E A R C H A N G E I N T H E AV E R AG E S O L D P R I C E

Average & Median Sold Prices Southern Utah 650K

1 Year Chg in Avg Sold Price:

20.2%

Avg Sold $ - Southern Utah Median Sold $ - Southern Utah $627,463

$592,363

600K

$567,250

550K

$522,159 $499,133

500K

$522,450 450K

$433,842

$374,912

400K

$355,624

$389,555

350K

$335,000

300K

$301,868

Jul

Jun

May

Apr

Feb

Mar

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

2022 Apr

Feb

Mar

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

2021 Apr

Feb

Mar

Jan

Dec

2020

Data is aggregated from the WCMLS and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. "Southern Utah" includes Washington and Iron Counties. Prepared By Summit Sotheby's International Realty.

S U M M I T S OT H E BYS R E A LT Y.C O M

average & median sold price eastern utah

60.5%

O N E -Y E A R C H A N G E I N T H E AV E R AG E S O L D P R I C E

Average & Median Sold Prices Moab

1 Year Chg in Avg Sold Price:

60.5%

850K

Avg Sold $ - Moab Median Sold $ - Moab

800K 750K

$741,091

700K

$592,909

650K

$638,250

600K 550K

$461,789

500K

$378,643

$350,283

$450,000

350K

$352,500

$318,700

Jul

Jun

May

Apr

Feb

Mar

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

2022 Apr

Feb

Mar

Dec

Oct

Sep

Jul

Aug

Jun

May

2021 Apr

Feb

Mar

Dec

2020

Jan

250K

Jan

300K

$407,000

Nov

400K

$495,000

$375,993

450K

q2 market report | P A G E 1 9

average mortgage rates

'30 Year Fixed' Mortgage Rates the past thirty years: january 1971 - june 2022 From 1971-Today

18.63%

16.35%

Avg. 30 Yr Fixed Mortgage Rate %

15.00%

14.68%

12.55%

10.02%

10.00%

9.25%

9.75% 9.03%

7.29%

6.74%

5.00%

1997

1995 1996

1994

1993

1992

1991

1990

1989

1988

1987

1986

1985

1984

1990

1983

1981 1982

1980

1979

1978

1977

1976

1975

1974

1973

1971 1972

1980

Data Source: Freddie Mac. https://www.freddiemac.com/pmms. Since April 1971, Freddie Mac has surveyed lenders across the natio weighted based on the dollar volume of conventional, single-family originations within the Conforming Loan Limit as set by FHFA – SUM I T Sfor O Tinformational H E B Y S R E Apuposes LT Y.C O M on the lender size. The raw data from Freddie Mac has been charted and displayed byMSSIR only.

30 -YE AR FIXED MORTGAGE R ATES

Since April 1971, Freddie Mac has surveyed lenders across the nation weekly to determine the average 30-year fixed-rate mortgage rate. The survey results are weighted based on dollar volume of single-family originations within the conforming loan limits set by the FHFA. A national weighted average is calculated based on the lender size.

% 8.64%

6.80% 5.81% 4.94% 5.21%

3.31% 2.65%

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2020

2012

2011

2009 2010

2008

2007

2006

2005

2004

2003

2010

2002

2001

2000

1999

1998

1997

1996

2000

the nation weekly to determine the average 30-year ﬁxed-rate mortgage rate. The survey results each week are y FHFA – prior survey averages are not adjusted. A national average is then calculated as the weighted average based

q2 market report | P A G E 2 1

average mortgage rates

'30 Year Fixed' Mortgage R the past ten years: january 2013 - june 2022 Last 10 Years 6.00%

5.50%

5.00%

4.58%

Interest Rate %

4.50%

4.00%

3.60%

3.30%

3.42%

3.35%

3.00%

2.75%

2.50%

2013

2014

2015

2016

2017

Data Source: Freddie Mac. https://www.freddiemac.com/pmms. Since April 1971, Freddie Mac has surveyed len weighted based on the dollar volume of conventional, single-family originations within the Conforming Loan L on the lender size. The raw data from Freddie Mac has been charted p SUM M I T Sand O Tdisplayed H E B Y S by R ESSIR A L T for Y . Cinformational OM

30 -YE AR FIXED MORTGAGE R ATES

e Rates

5.81% Jun 23, 2022

4.94%

Jan 6, 2022

3.18%

3.22%

3.05%

This Year: January 6, 2022

3.22%

January 13, 2022

3.45%

January 20, 2022

3.56%

January 27, 2022

3.55%

February 3, 2022

3.55%

February 10, 2022

3.69%

February 17, 2022

3.92%

February 24, 2022

3.89%

March 3, 2022

3.76%

March 10, 2022

3.85%

March 17, 2022

4.16%

March 24, 2022

4.42%

March 31, 2022

4.67%

April 7, 2022

4.72%

April 14, 2022

5.00%

April 21, 2022

5.11%

April 28, 2022

5.10%

May 5, 2022

5.27%

May 12, 2022

5.30%

May 19, 2022

5.25%

May 26, 2022

5.10%

June 2, 2022

5.09%

June 9, 2022

5.23%

June 16, 2022

5.78%

June 23, 2022

5.81%

2.97% 2.78% 2.65%

2018

2019

2020

2021

2022

rveyed lenders across the nation weekly to determine the average 30-year ﬁxed-rate mortgage rate. The survey results each week are ng Loan Limit as set by FHFA – prior survey averages are not adjusted. A national average is then calculated as the weighted average based mational puposes only. q2 market report | P A G E 2 3

our

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S U M M I T S OT H E BYS R E A LT Y.C O M

“All Available Inventory” is the cumulative total number of units that were on the market for sale during the calendar month, as opposed to units remaining available for sale at month end. “Properties Sold” includes any property listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby’s. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was compiled on July 10th, 2022. Information not verifiable by Park City Board of Realtors®. “Wasatch Back’ includes all listings from Summit and Wasatch Counties. ‘Southern Utah’ includes Washington and Iron Counties. ‘Wasatch Front’ includes Davis, Salt Lake, Utah Grand, Emery, San Juan and Wayne Counties. Prepared By Summit Sotheby’s International Realty. ©MMXXII Sotheby’s International Realty Affiliates, Inc. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Each Office Is Independently Owned And Operated. Copyright© Summit Sotheby’s International Realty 2022