Published September 8, 2025
Utah Buyers Market
When Tyler and Shelby Clark started looking for their first home, they had high hopes and a tight deadline. After years of saving and deliberating whether the time was right, conversations started getting serious when they were just a few months away from having their first baby. Their apartment lease would be up soon, and it was time to find a place of their own or continue renting and trust they wouldn’t be priced out of the market later down the road.
The Clarks dreamed of finding a single-family home in a friendly neighborhood where they could stay for years with room to grow their family. They longed to give their kids the opportunity to spend their childhoods outdoors, so a backyard and no HOA restrictions were some of their biggest priorities.
As the couple started their online search, their hopes quickly collided with reality. Home prices had risen dramatically in recent years, and even entry-level condos felt out of reach, much less the kind of property they hoped to purchase. They wondered if they would have to compromise on their biggest priorities.
Their realtor and lender, Peter Morkel and Andy Larsen, believed there was still an opportunity to buy a home if they approached the investment strategically. They knew the budget would be tight, but also understood that the current market offered buyers more negotiating power than previous years.
Peter diligently scoured the multiple listing service and found a few homes that fit the Clarks’ narrow criteria within their price range. After looking at just two properties, the Clarks knew they wanted to submit an offer on a charming single-family home close to schools with a beautifully landscaped backyard. It had four bedrooms, plenty of room to grow, and was exactly what they were searching for in nearly every area. The only problem was the price.
The home was $20,000 more than the Clarks could afford. Peter analyzed nearby comparable home sales and days on market before submitting an offer on the Clarks' behalf. His 25 years of real estate experience helped him negotiate massive concessions for the young couple.
In the final agreement, the sellers agreed to a $25,000 price reduction, to pay $8,000 in closing costs, as well as pay Peter’s commission. After the inspection report came back, Peter was able to negotiate an additional $1,500 for the Clarks to make minor repairs. Andy then helped the Clarks use part of the seller concessions to buy down their interest rate, reducing their monthly payment and making the home significantly more affordable.
Just one week after welcoming their baby, the Clarks signed the closing documents on their first home. To make the process easier, Peter and Andy arranged for a mobile notary to meet them at their apartment. The final signature was made while their newborn slept beside them in a bassinet.
The Clarks’ experience reflects what many Millennial and Gen Z buyers face in Utah’s real estate market. According to the Federal Housing Finance Agency, home prices increased approximately 65% from 2019 to 2024, and affordability is a significant concern for young buyers.
In this type of market, experience matters. Buyers who understand how to structure offers, negotiate concessions, and explore financing options can often save thousands of dollars. Sellers benefit from accurate pricing strategies and effective marketing that attracts strong offers without unnecessary price reductions or extended time on the market.
Each buyer and seller faces a unique set of circumstances. If you’re considering a move in the next few years and want to explore what options may be available in today’s market, reach out to your agent today to get started.
