Housing demand drops as mortgage rates rise.

Salt Lake City officials are close to adopting a new housing plan that aims to add 10,000 new housing units over the next five years, with at least 2,000 of those being set aside for deeply affordable housing. The plan also seeks to increase housing stability by assisting 10,000 low-income households annually and to build equitable and fair housing through about 1,000 homeownership opportunities for low- to-moderate-income households. The city's housing officials project that the city will gain more than 6,000 new residents over the next five years as it continues to grow.