LOGAN — Logan has been identified as one of the top U.S. markets experiencing significant home price declines in early 2025, but real estate experts say the local housing downturn shouldn’t cause panic.
According to the latest report by the National Association of Realtors, Logan ranked fifth nationally among cities facing the sharpest price decreases. In Logan, the median home sales price dropped 5.8% year-over-year to $410,900.
Despite these notable declines, NAR Chief Economist Lawrence Yun emphasized that the price adjustments are part of broader market normalization following substantial gains in recent years.
“Although prices in these markets are falling, there is no cause for alarm,” Yun stated. “Homeowners are not selling in distressed situations but still selling with a profit.”
The situation in Logan mirrors wider trends seen in other popular markets, including St. George, Utah, which experienced a 5.5% drop in median home prices, down to $524,400. Nationwide, about 17% of U.S. markets saw price declines in the first quarter of 2025, a notable increase from 11% in the previous quarter.
Real estate professionals attribute the downward pricing pressure to rising housing inventory and a recent surge in new home construction, especially in the West and South.
In Cache County, however, the median home price slightly increased by 3% to $440,200, contrasting Logan’s decline. Nonetheless, homes are remaining on the market significantly longer across the region, signaling a cooling effect in the local housing market.
Yun highlighted that areas experiencing solid job growth—such as Northern Utah—are likely to rebound quickly from the current downturn.
“A few areas where home prices declined a year or two ago are now rebounding, including Boise, ID, Las Vegas, Salt Lake City, San Francisco, and Seattle,” Yun says. “Similarly, some markets experiencing price declines … with solid job growth could see prices recover in the near future.”
Despite current challenges, Yun reassures homeowners by noting that distress indicators like foreclosures and mortgage defaults remain historically low.
“It’s still a very good time to be a homeowner,” Yun said. “Many homeowners continue to see substantial equity growth despite these short-term price fluctuations.”