Inventory exploded, prices climbed, sales took a breath.
July was the most striking month in the data so far. Active single-family inventory ran fifty-seven percent ahead of last July. The median sale price ran fifteen percent ahead of last July. Closed sales, meanwhile, slipped about eight percent below last July. Three different lines pulling in three different directions, and all three tell part of the same story.
The deeper shelf finally caught up with summer buyer flow. The homes that closed this month were the better ones at the upper end of the band, which is why the median jumped even as the count dipped. For the short read on where your home would price into this, my what is my home worth in Cedar City page is the fastest place to start.