UTAH CONSTRUCTION REPORT RESIDENTIAL CONSTRUCTION VALUE HIGHER AS MULTIFAMILY REBOUNDS PERMIT-AUTHORIZED CONSTRUCTION FOR APRIL MAY JUNE 2001

Transcription

1 Bureau of Economic and Business Research David Eccles School of Business University of Utah RESIDENTIAL CONSTRUCTION VALUE HIGHER AS MULTIFAMILY REBOUNDS James A. Wood Diane S. Gillam UTAH CONSTRUCTION REPORT PERMIT-AUTHORIZED CONSTRUCTION FOR APRIL MAY JUNE VOLUME, NO. The value of construction activity in Utah through the first six months of the year hit an alltime high of $. billion, an increase of. percent over the same period in. The increase in valuation was due primarily to the strength of the residential sector, which had a valuation of $. billion, up. percent over last year. Neither the nonresidential nor additions, alterations and repairs sectors have fared as well. construction valuation was down. percent, dropping from $ million in to $ million in. Additions, alterations and repairs showed a slight gain of. percent, increasing to $ million (Table ). When measured in terms of dwelling units, residential construction is up. percent statewide. During the January to June period, permits have been issued for, dwelling units. Three out of four of these new dwelling units have been detached single-family homes. While single-family homes continue to dominate residential construction activity, the multifamily sector (apartments, condominiums and twin homes/duplexes) has recorded much larger gains in. Multifamily activity is up. percent over. Through the second quarter, the number of multifamily units totaled, versus only, in. Much of the expansion in this sector is due to higher levels of condominium construction. Nearly, of the approximately, multifamily units have been condominiums. Historically, condominiums account for about percent of total residential construction activity, however, so far this year condominiums have captured just over percent of the residential market. In real terms this year ranks second. In constant dollars, the valuation for the January to June period of was $. billion compared to $. billion in.

2 Table Permit-Authorized Construction in Utah January - June - (values in thousands) Number of of Additions, Alterations Construction Construction and Repairs Construction Year, $,. $,. $,. $,. $,.,,.,.,.,.,,.,,.,.,.,.,,.,,.,.,.,,,.,,,.,.,.,.,,.,,.,.,.,.,,.,,,.,.,.,.,,.,,,.,.,.,.,,.,,,.,.,.,.,,.,,,.,.,.,.,,. Ten-year Average, $,. $,. $,. $,. $,,. Figure Authorized by Quarter State of Utah, -,, number of units,,, st Quarter nd Quarter rd Quarter th Quarter Construction Despite a slowdown in both economic and demographic growth, residential construction in Utah has held up surprisingly well. The demand for new homes, condominiums and twin homes has been bolstered by low mortgages rates while new apartment construction has been encouraged by improving market conditions, i.e., lower vacancy rates and the potential for higher rental rates. Not only is the residential construction industry weathering the economic slowdown, the same is true for the real estate industry. In the four Wasatch Front counties, the number of new homes sold by real estate agents, the average price of homes sold and total value of homes sold are all ahead of last year.

3 Figure Average Mortgage Interest Rates and Single-family Authorized in Utah - Mortgage Rates (%) Single-family Avg Mortgage Rate (%) Single-family Number and of Homes Sold Through Multiple Listing Service January through June Number of Sold Salt Lake Utah Davis Weber,,,,,,,,,,,,,,,,,,, Average Price of Homes Sold (dollars) Salt Lake Utah Davis Weber $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, of Homes Sold (dollars) Salt Lake Utah Davis Weber $,, $,, $,, $,, $,,, $,, $,, $,, $,, $,,, $,, $,, $,, $,, $,,, $,, $,, $,, $,, $,,, Source: Wasatch Front Regional Multiple Listing Service.

4 Single-family - The number of new homes receiving building permits from January through June was,. Homebuilders should be pleased with this level of construction activity. Only two years and have had higher levels of homebuilding during the first six months of the year. To date, the top ranked cities for single-family permit-authorized construction in Utah are: St. George ( units), Syracuse (), Saratoga Springs (), Draper (), and Riverton (). Among all cities in Utah, Saratoga Springs has had the largest increase in single-family construction. Through the second quarter of Saratoga Springs has issued permits for new homes compared to only last year. This increase of homes represents a percentage gain of percent. Saratoga Springs holds a significant lead over the second ranked city Riverton, which had an increase of homes and a gain of percent. Other notable changes in activity have occurred in Tooele City, Eagle Mountain and St. George. Tooele City has been among the top five cities in singlefamily construction since but now appears to be cooling down. Through the first six months of the year the number of new single-family homes in Tooele City has dropped from units in to units in. Tooele City currently ranks th statewide in single-family activity. An even more precipitous drop in new home activity has been experienced by Eagle Mountain, a new city in Utah County. Last year Eagle Mountain ranked first among all Utah cities with permit-authorized single-family units. In, new home construction in Eagle Mountain has dropped by percent or units. To date, Eagle Mountain has issued building permits for new single-family homes for a ranking of th statewide. St. George s performance is notable for its consistency. Demand for new homes in St. George continues at very high levels, year after year. Of course, housing demand in St. George benefits substantially from its desirability as a retirement and second home community. Currently the city leads the state in single-family activity with units percent or units higher than last year. Demand for homes in St. George is driven by extraordinary rates of demographic growth. From to the population of St. George increased at an average annual growth rate of. percent, a phenomenal growth rate for a city of,. A comparison with two of the Wasatch Front s fastest growing cities gives some perspective to the growth of St. George. West Jordan and Layton, which are similar in size, had annual compound growth rates of. percent and. percent during the s, well below the growth rate of St. George. At the county level, an important shift is underway in single-family construction Salt Lake County is about to be toppled from its perennial role as the leader in new home construction. Historically, the level of single-family construction in Salt Lake County has consistently been two to three times greater than the second ranked county, which has almost always been Utah County. However, in Utah County began to close the gap and by the end of had pulled to within single-family units of Salt Lake County, units to, units. It now appears may very well be the first year that Salt Lake County relinquishes its leadership in new home construction. Through the first six months of the year Utah County has had, singlefamily permits issued compared to, in Salt Lake County. The surge in single-family activity in Utah County is due, in part, to the incorporation of two new cities. A few years ago, the development potential of large, accessible tracts of agricultural land located between two of the most rapidly growing areas of the state northern Utah County and southern Salt Lake County attracted the attention of real estate developers. The need for public services required the incorporation of two new towns, Saratoga Springs and Eagle Mountain. Master planned communities with hundreds of new homes were approved in both cities. In the last couple of years these two new communities have accounted for about percent of all single-family activity in Utah County. Utah County s role in single-family development will be even further enhanced once new home construction begins at Fox Ridge, a large mixed use development in Lehi, east of I-. Fox Ridge is a master planned community of, housing units and like new communities in Saratoga Springs and Eagle Mountain, a substantial share of the homes at Fox Ridge will be targeted for the young family market. Multifamily Construction - Multifamily construction has had a remarkable turnaround in, racking up an percent increase over last year. Through the first six months of this year the number of permit-authorized multifamily units was, compared to, in. Multifamily units

5 include three types of housing: duplex/twin homes, apartments and condominiums. Both condominiums and apartments have had large gains over last year. The number of condominium units is up nearly percent and new apartment units percent. In contrast, the number of duplexes/twin homes has declined percent. % Chg, % Apartments, % Duplexes/Twin homes -% - The rise in condominium activity reflects, in part, Olympic-induced housing, if one makes the assumption that all condominium development in in Summit County and Park City would not have occurred without the Olympics. So far this year, permits have been issued for condominium units in Summit County and units in Park City. Thus, a total of condominium units could be considered Olympic-related, which is about percent of all condominium activity statewide. The largest condominium project is the -unit Gateway, which is part of the housing component of the $ million Gateway project in downtown Salt Lake City. (The Gateway will not be used for media housing for the Olympics. The completion date for these condominiums is fall of.) The project will consist of one to three bedroom units of approximately to square feet with prices starting at $,. There are several other condominium projects in Salt Lake and Utah counties that have received building permits this year: Stonecreek (West Jordan), Brittany (West Jordan) Village at Riverwoods (Provo), Old Academy (Provo), and Willow Springs (Eagle Mountain). Most of these condominium projects are targeting the first-time homebuyer market, consequently units are moderately priced. Rental - There are about, rental units in the state of Utah. Through the second quarter of, permits have been issued for, rental units, an annualized pace of about, units. At this rate, the statewide rental inventory would expand by only. percent this year. The data make clear that although apartment construction is up an impressive percent so far this year, when measured against the rental inventory, the level of new apartment construction activity is actually relatively modest. Certainly at this point, there are no signs that new apartment construction threatens any of the local apartment markets. In fact, low vacancy rates and tight market conditions have served as an incentive for developers and real estate investors to built rental units. Apartment vacancy rates for most cities along the Wasatch Front are currently running at or below percent. Only four counties have had at least new rental units this year. They are: Salt Lake ( units), Cache (), Davis () and Utah (). A majority of the new rental units in Salt Lake County are in a single large project, The Northgate Apartments. Northgate is a -unit apartment project that is also part of the housing component of The Gateway project. Northgate could be considered an Olympics-induced housing project since all units will be used first by Olympic media personnel. There is also one other Olympics-related rental project under construction (began in ), Jefferson School Apartments. Jefferson School is an -unit project owned by the Salt Lake City Housing Authority. All Jefferson School units will be first leased to security personnel (FBI) assigned to the Olympics. rental housing attributable to the Olympics totals units. Major multifamily projects begun during the second quarter are shown in Table. Table Major Projects Second Quarter Location Type Bldgs April Eagle Mountain $,, Riverton Apartments $,, Tooele Apartments $,, West Jordan $,, West Jordan $,, May Layton Apartments $,, Logan Apartments $,, Logan Apartments $,, Provo $,, South Weber $,, Tooele Apartments $,, West Jordan $,, West Valley Apartments $,, West Valley $,, June Layton Apartments $,, Logan Apartments $,, Provo $,, Salt Lake City $,, Sandy $,, South Ogden Apartments $,, Spanish Fork $,, Summit County $,, West Valley $,,

6 Table Summary of Construction by County January through June and Mobile/Manufactured Multifamily and Homes and Condominium ($) ($) County/City Beaver County ,.,. -. Box Elder County ,.,.. Cache County ,.,.. Carbon County ,.,.. Daggett County Davis County,. -.,.,.,.. Duchesne County ,.,. -. Emery County ,.. -. Garfield County -. --,.,. -. Grand County -...,., -. Iron County ,.,. -. Juab County ,.,. -. Kane County ,.,. -. Millard County ,.,.. Morgan County ,.,.. Piute County Rich County ,.. -. Salt Lake County,,. -..,,.,.,.. San Juan County ,.,. -. Sanpete County ,.,.. Sevier County ,.,. -. Summit County. -..,.,.. Tooele County ,.,. -. Uintah County ,.,. -. Utah County,,. -..,,.,.,.. Wasatch County ,.,. -. Washington County. -...,.,. -. Wayne County ,.,. -. Weber County ,.,. -. State,,. -.,.,,.,,.,,..

7 Construction Compared to a year ago, Utah s nonresidential construction valuation has dropped nearly percent to $. million. The drop in valuation, however, is more a reflection of the strong second quarter numbers of than any serious weakness in the nonresidential sector in. In fact, this year s valuation ranks as the third highest January through June total ever, behind only with $. million and with $. million. A close look at the numbers, however, does show that the level of activity in the first quarter was much more robust than in the second quarter. In the first quarter there were nonresidential projects statewide with a valuation of $ million or more. The largest first quarter project was the new Salt Lake City Library valued at $ million. In the second quarter there were only seven projects valued at $ million or more and the largest project was the new LDS Institute of Religion at the University of Utah valued at $. million. Due to the nature of the nonresidential sector, quarter to quarter volatility is quite common. A single large project, such as the Salt Lake City Library, can skew the valuation for a particular quarter. Major projects for the second quarter are listed in Table. A review of nonresidential construction by type of use shows that for the four major categories of use; industrial, office, retail, and public buildings, this year s performance is very consistent with the five-year averages. For example, the five-year average valuation for industrial buildings through the second quarter is $. million and, so far, this year the valuation for new industrial buildings is $. million. For office and retail buildings the five-year averages are $. million and $. million, compared to this year s valuation of $. million and $. million, respectively. The one exception is public buildings, which in had a total valuation of $. million, percent higher than the five-year average of $. million. The reason for the above average performance of the public building category is the $ million Salt Lake City Library. In the hotel category, new construction activity has been reduced to very low levels in recent years. Through the second quarter only $ million in new hotel construction was reported, far below the fiveyear average of $ million. The lack of activity is a response to market weakness and the rising development risk for the hotel sector. Rising risk is due to falling occupancy rates created by an oversupply of hotel and motel rooms. The over-supply of rooms is associated with new hotel development between and induced, primarily, by the Olympics (Table and Figure ). Table Major Projects Second Quarter Location Type April Bountiful Church $,, Ogden Office Building $,, Park City Condo Hotel $,, Park City Day Lodge/Restaurant $,, Salt Lake City Warehouse $,, Salt Lake City Institute of Religion $,, Sandy Office/Warehouse $,, South Jordan Retail $,, Summit County Waste Water Plant $,, Taylorsville Recreation Center $,, Tooele Church $,, West Jordan Fire Station $,, West Jordan Warehouse $,, West Jordan Church $,, May American Fork Office Building $,, Beaver Church $,, Murray Office Building $,, Provo Office Building $,, Provo University Building $,, Saint George Craft Store $,, Salt Lake City Manufacturing $,, Salt Lake City Office Building $,, South Jordan Office Building $,, South Salt Lake Warehouse $,, Taylorsville Office Building $,, Weber County Restaurant $,, West Jordan Institute of Religion $,, West Valley Church $,, June Centerville Church $,, Draper Church $,, Logan Office Building $,, Murray Office Building $,, Ogden Industrial Building $,, Park City Bridge $,, Park City Hotel $,, Provo Hospital Building $,, Provo Office Building $,, Provo Fire Station $,, Saint George Church $,, Salt Lake County Hospice Care $,, Sandy Industrial Building $,, South Jordan Mortuary $,, South Jordan Community Center $,, Tooele County Industrial Building $,, West Jordan Retail Store $,,

8 Table in Utah by Major Sector January - June - (millions of dollars) Year Churches Industrial Offices Retail Public(a) Hotels Other(b) Five-year average a Includes only those structures built by public agencies such as state and local governments, for which a permit was issued. Not all local entities require public projects to obtain a permit. b Other and miscellaneous includes all other types of nonresidential buildings and structures other than specified buildings. Figure Construction s by Major Category January - June - millions of dollars Churches Industrial Offices Retail Public(a) Hotels Other(b) construction activity is heavily concentrated in Salt Lake County. Through the second quarter of, Salt Lake County, with $ million in nonresidential valuation, accounts for percent of all nonresidential construction in the state. Salt Lake City, which has had $. million in nonresidential valuation, represents percent of statewide nonresidential activity. It should be noted that many nonresidential building projects are not reflected in the data. Most state buildings and many municipal, county and school buildings are not required by cities to obtain building permits. Nonbuilding projects such as bridges, dams and roads (including Interstate and light rail) also are not issued building permits. Additions, Alterations and Repairs Over the past several years, the additions, alterations and repairs sector has accounted for to percent of the value of new construction activity.

9 At midyear the value of additions, alterations and repairs was $ million, about percent of total construction valuation in Utah. The largest project in this sector was the $. million addition to the American Fork IHC Hospital (Table ). This sector has benefitted from several million dollars of interior finish work at the Gateway project in Salt Lake City. Table Major Addition, Alteration, and Repair Projects Second Quarter Location Type April American Fork Hospital Addition $,, Bountiful Church Remodel $,, Ogden Hospital Remodel $,, Salt Lake City Private School Addition $,, Salt Lake City Private School Addition $,, Salt Lake City Retail Remodel $,, May Salt Lake City Warehouse Addition $,, Salt Lake City Warehouse Remodel $,, West Valley Warehouse Addition $,, West Valley Retail Remodel $,, West Valley Office Remodel $,, June Cedar City Warehouse Addition $,, Layton Retail Remodel $,, Ogden Church Remodel $,, Park City Hotel Addition $,, Salt Lake City Terminal Remodel $,, Salt Lake City Terminal Remodel $,, Salt Lake City Office Remodel $,, Bureau of the Census Statistics To determine how construction activity in Utah compares with the Mountain, Pacific and other Census regions and the nation, the Bureau of Economic and Business Research uses statistics compiled by the U.S. Bureau of the Census. Due to differences in surveying and modeling methodologies used by the Census, the statistics are not strictly comparable to those reported by the Bureau of Economic and Business Research. Information on nonresidential building is no longer available. According to Census statistics through the second quarter of, the number of permit-authorized dwelling units nationally increased. percent. Of the nine regions in the country five have experienced declines in residential construction activity and four have recorded increases. The region with the largest increase in activity is the Mountain Region, which includes Utah. For the Mountain Region the number of permit-authorized dwelling units is up. percent compared to. Nevada had the largest increase of any Mountain Region state with a gain of. percent. The number of new dwelling units in Nevada through the first six months of the year totals, units. Among the eight Mountain states only Arizona recorded a drop in permit-authorized activity. The number of residential building permits authorized in Arizona so far in is,, a decline of less than percent when compared to. In the Mountain Region the number of multifamily units is up. percent. Every state in the region showed an increase in multifamily activity with the exception of Arizona. As measured by the Census, Utah s multifamily activity wa up percent. Nationally, multifamily activity is up only. percent. The value of residential construction in the Mountain States increased. percent to $. billion. Colorado led all Mountain States with an increase in valuation of. percent and Wyoming was the only state to experience a decline in residential valuation down percent through June. As measured by the Bureau of the Census, the value of residential construction in Utah was up. percent. Nationally, the value of residential construction increased by. percent through the second quarter of (Table ).

10 Table Construction by State and Census Region January - June - (values in millions of dollars) Single-family Multifamily England,, -.,, -.,,.,.,.. Connecticut,, -.,, Maine,, -.,, Massachusetts,, -.,, -.,,.,.,.. Hampshire,, -.,, Rhode Island,, -.,, Vermont,, -., Middle Atlantic,, -.,, -.,, -.,.,. -. Jersey,, -.,, -.,, -.,.,. -. York,,.,, -.,,.,.,.. Pennsylvania,, -.,, -.,,.,.,. -. East North Central,,.,,.,, -.,.,.. Illinois,,.,,.,, -.,.,.. Indiana,,.,,.,, -.,.,.. Michigan,, -.,, -.,, -.,.,. -. Ohio,,.,,.,,.,.,.. Wisconsin,, -.,, -.,, -.,.,.. West North Central,, -.,, -.,, -.,.,.. Iowa,, -.,, -.,, Kansas,,.,, -.,,.... Minnesota,, -.,, -.,, -.,.,. -. Missouri,, -.,, -.,, -.,.,.. Nebraska,, -.,, -., North Dakota,, South Dakota,, -.,, South Atlantic,,.,,.,,.,.,.. Delaware,,.,,.... Dist. of Columbia a Florida,,.,,.,,.,.,.. Georgia,,.,,.,, -.,.,.. Maryland,,.,, -.,,.,.,.. North Carolina,,.,,.,, -.,.,.. South Carolina,, -.,,.,, -.,.,. -. Virginia,,.,,.,,.,.,.. West Virginia,,.,,..... East South Central,, -.,,.,, -.,.,.. Alabama,, -.,, -.,, -.,.,. -. Kentucky,, -.,, -.,, Mississippi,, -.,,., Tennessee,, -.,,.,, -.,.,.. West South Central,,.,,.,,.,.,.. Arkansas,,.,,.,,.... Louisiana,,.,,.,.... Oklahoma,, -.,,., Texas,,.,,.,,.,.,.. Mountain,,.,,.,,.,.,.. Arizona,, -.,,.,, -.,.,.. Colorado,,.,,.,,.,.,. Idaho,,.,,.,.... Montana,, Nevada,,.,,.,,.,.,.. Mexico,,.,,..... Utah,,.,,.,,..,.. Wyoming Pacific,,.,,.,, -.,.,.. Alaska,, California,,.,,.,, -.,.,.. Hawaii,, -.,, Oregon,,.,,.,, -.,.,.. Washington,,.,,.,, -.,.,.. United States,,.,,.,,.,.,.. Source: U.S. Department of Commerce, Bureau of the Census (Washington, D.C.), June and.

11 SUMMARY TABLE Permit-Authorized Construction Second Quarter! (values in thousands of dollars) April Month Year-to-date - -,,,.,,,. Single-family,,,.,,,. Multifamily.,,. Mobile Homes/ -. -.,.,.,..,.,.,..,.,.,. -.,.,.,. -. Additions, Alterations and Repairs,.,.,..,.,.,.. Construction,.,.,..,,.,,.,,.. May Month Year-to-date - -,,,.,,,. Single-family,,, -.,,,. Multifamily.,,,. Mobile Homes/ -. -.,.,.,..,.,.,..,.,.,. -.,.,.,. -. Additions, Alterations and Repairs,.,.,..,.,.,.. Construction,.,.,..,,.,,.,,.. June Month Year-to-date - -,,,.,,,. Single-family,,,.,,,. Multifamily.,,,. Mobile Homes/ -. -.,.,.,..,,.,,.,,..,.,.,. -.,.,.,. -. Additions, Alterations and Repairs,.,.,. -.,.,.,.. Construction,.,.,. -.,,.,,.,,.. may not add due to rounding For further information contact Jim Wood, Bureau of Economic and Business Research, University of Utah, () -.

12 Detail Table Permit-Authorized Construction in Utah April Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Duchesne County Beaver County... Duchesne... Beaver.. Roosevelt.. Milford.... Other Duchesne County... Other Beaver County,..., Emery County Box Elder County Ferron..... Brigham City Green River Corinne.... Huntington Deweyville... Orangeville... Elwood..... Other Emery County Garland..... Howell Mantua,....,. Perry Garfield County Plymouth Antimony Portage Boulder Snowville Cannonville.. Tremonton Escalante.. Willard.. Hatch,...,. Other Box Elder County Henrieville,....,... Panguitch Tropic... Other Garfield County Cache County Amalga Clarkston Cornish Grand County... Hyde Park.... Moab,.... Hyrum,..... Other Grand County Lewiston,....,,..... Logan Mendon Millville Iron County ton,....,. Cedar City.... Nibley Paragonah,.,. North Logan Parowan Paradise,..... Other Iron County... Providence,....,..... Richmond River Heights,.... Smithfield Juab County Trenton... Eureka... Wellsville.... Nephi,... Other Cache County Other Juab County,..,., Carbon County Kane County East Carbon Glendale... Helper..... Kanab..... Price Orderville Scofield... Other Kane County Sunnyside,....,... Wellington Other Carbon County..... Millard County Delta.. Fillmore Daggett County Hinckley Manila Kanosh.. Other Daggett County Lynndyl.. Oak City... Other Millard County,.... Davis County... -,.,..,.,. Bountiful,.... Centerville Morgan County,....,. Clearfield.... Morgan,...,. Clinton,...,. Other Morgan County,...,. Farmington,...,. Fruit Heights....,....,. Kaysville,...,.,. Layton Piute County,....,. North Salt Lake Kingston,..,. South Weber Other Piute County.. Sunset,...,. Syracuse.... West Bountiful... West Point,...,. Woods Cross.. Other Davis County,.,.,.,.,

13 Detail Table Permit-Authorized Construction in Utah April Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Rich County Utah County Garden City Alpine,.,. Randolph Other Rich County American Fork Cedar Hills,....,.,.. Elk Ridge,.., Eagle Mountain,.,,. Goshen Salt Lake County Highland,...,. Bluffdale... Lehi,...,. Draper,.,...,. Lindon,...,. Midvale...,.,. Mapleton,...,. Murray Riverton,., ,.,. Orem Payson,.,.....,..,.,. Salt Lake City,.,.,.,.,. Pleasant Grove,....,. Sandy,.,...,. Provo,..,.,. South Jordan,.,..,. Salem...,. South Salt Lake.. Santaquin,.,. West Jordan,.,..,.,. Spanish Fork,....,. West Valley City,....,. Springville,....,. Taylorsville,.,...,. Vineyard Herriman Other Salt Lake County,.,....,..,.,. Woodland Hills Saratoga Springs,.,..,.,.,.,.,.,.,. Other Utah County,..., ,.,.,.,., San Juan County Blanding... Wasatch County Monticello Heber City,...,. Other San Juan County.... Midway,.., Other Wasatch County,.,..,..,., Sanpete County Centerfield... Washington County Ephraim... Enterprise... Fairview.. Hurricane,...,. Fayette Ivins,.,. Fountain Green La Verkin... Gunnison Manti Leeds Santa Clara,....,. Mayfield.. Springdale Moroni.. St. George,.,..,. Mt. Pleasant.. Virgin Spring City.. Washington,...,. Sterling Other Washington County o...,. Wales..,.,...,. Other Sanpete County , ,. -. Wayne County Hanksville Sevier County Loa Glenwood.. Other Wayne County Other Sevier County,...,.,..., Weber County Summit County Coalville.. Farr West Harrisville,....,.. Kamas... Huntsville Oakley.. North Ogden,....,. Park City,.,...,. Ogden,.,..,.,. Other Summit County,.,.,. Plain City...,.,...,. Pleasant View Riverdale.. Tooele County Grantsville.... Roy South Ogden Uintah, ,... Tooele,.,..,. Washington Terrace Wendover Other Weber County,....,. Other Tooele County.,...,.,.,..,.,.,.,..., Uintah County State,,.,.,.,.,. Vernal Other Uintah County

14 Detail Table Permit-Authorized Construction in Utah May Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Duchesne County Beaver County.. Duchesne,..,.. Beaver Roosevelt Milford,.... Other Duchesne County.... Other Beaver County,...,.,.., Emery County Box Elder County Ferron..... Brigham City.. Green River.. Corinne..... Huntington Deweyville.. Orangeville Elwood.... Other Emery County.. Garland..... Howell Mantua Perry Garfield County Plymouth Antimony Portage Boulder Snowville Cannonville.... Tremonton Escalante.... Willard Hatch,...,. Other Box Elder County Henrieville,....,. Panguitch Tropic Other Garfield County Cache County.... Amalga Clarkston Cornish Grand County..... Hyde Park Moab.... Hyrum Other Grand County Lewiston,...,.,. Logan Mendon.. Millville Iron County ton,...,. Cedar City.... Nibley Paragonah.. North Logan..... Parowan... Paradise,... Other Iron County,...,. Providence,....,..... Richmond River Heights..... Smithfield Juab County.. Trenton Eureka... Wellsville,..... Nephi,.... Other Cache County.. Other Juab County,...,.,., Carbon County Kane County.. East Carbon Glendale..... Helper.... Kanab..... Price.. Orderville... Scofield,...,. Other Kane County Sunnyside,....,.... Wellington ,..... Other Carbon County,....,. Millard County Delta.... Fillmore Daggett County.. Hinckley Manila Kanosh.. Other Daggett County Lynndyl.... Oak City.... Other Millard County,..... Davis County ,..., Bountiful..... Centerville Morgan County,...,. Clearfield.. Morgan,...,. Clinton,.,.. Other Morgan County,....,. Farmington,.,.... Fruit Heights ,....,. Kaysville,....,. Layton Piute County,...,. North Salt Lake Kingston,...,. South Weber Other Piute County... Sunset,...,. Syracuse... West Bountiful... West Point,..,. Woods Cross... Other Davis County,,..,.,

15 Detail Table Permit-Authorized Construction in Utah May Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Rich County Utah County Garden City.... Alpine,...,. Randolph Other Rich County American Fork Cedar Hills,..,..., Elk Ridge Eagle Mountain,.,. Goshen.. Salt Lake County Highland,..,. Bluffdale...,. Lehi,...,. Draper,....,. Lindon...,. Midvale....,. Mapleton Murray Riverton.,.,......,.,. Orem Payson,.,.....,..,.,. Salt Lake City,.,.,.,.,. Pleasant Grove,....,. Sandy,...,. Provo,.,...,. South Jordan,.,..,. Salem,...,. South Salt Lake,.,. Santaquin... West Jordan,.,..,. Spanish Fork,.,...,. West Valley City,.,..,.,. Springville,....,. Taylorsville,.,...,. Vineyard Herriman Other Salt Lake County,.,...,...,.,. Woodland Hills Saratoga Springs,.,..,.,.,.,.,.,.,. Other Utah County,..., ,.,.,.,., San Juan County Blanding Wasatch County Monticello... Heber City,....,. Other San Juan County.... Midway Other Wasatch County,.,......,., Sanpete County Centerfield... Washington County Ephraim.. Enterprise... Fairview.. Hurricane,..,. Fayette Ivins..,. Fountain Green.. La Verkin... Gunnison Manti..... Leeds Santa Clara.... Mayfield.. Springdale Moroni.. St. George,,...,. Mt. Pleasant.... Virgin.. Spring City.. Washington Sterling Other Washington County,....,. Wales..,.,...,. Other Sanpete County , ,.. Wayne County Hanksville Sevier County Loa Glenwood Other Wayne County.... Other Sevier County , Weber County Summit County Coalville.. Farr West Harrisville, ,.. Kamas... Huntsville Oakley.. North Ogden,...,. Park City,..,..,. Ogden,....,. Other Summit County,....,. Plain City....,..,,.,. Pleasant View Riverdale..... Tooele County Grantsville..... Roy South Ogden Uintah, ,.,.. Tooele,.,..,. Washington Terrace.... Wendover Other Weber County,.,...,. Other Tooele County,....,.,.,...,.,.,..., Uintah County State,,.,.,.,.,. Vernal Other Uintah County

16 Detail Table Permit-Authorized Construction in Utah June Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Duchesne County Beaver County.. Duchesne... Beaver Roosevelt... Milford.... Other Duchesne County... Other Beaver County Emery County Box Elder County Ferron..... Brigham City Green River Corinne.... Huntington Deweyville... Orangeville.. Elwood.... Other Emery County Garland..... Howell Mantua Perry Garfield County Plymouth.. Antimony Portage.. Boulder Snowville Cannonville..... Tremonton Escalante.. Willard.. Hatch.... Other Box Elder County Henrieville,....,... Panguitch Tropic... Other Garfield County Cache County,..... Amalga Clarkston Cornish Grand County Hyde Park Moab.... Hyrum Other Grand County Lewiston,...,.,. Logan Mendon... Millville Iron County ton,.,..., Cedar City... Nibley Paragonah,...,. North Logan.... Parowan.. Paradise.... Other Iron County... Providence,.,...,... Richmond River Heights.... Smithfield Juab County.. Trenton Eureka... Wellsville..... Nephi.... Other Cache County.... Other Juab County,...,., Carbon County Kane County.. East Carbon Glendale.. Helper Kanab.... Price... Orderville Scofield... Other Kane County Sunnyside Wellington Other Carbon County,..... Millard County Delta Fillmore Daggett County.. Hinckley.... Manila Kanosh Other Daggett County Lynndyl.... Oak City.. Other Millard County... Davis County ,....,. Bountiful,..,.. Centerville Morgan County,....,. Clearfield.... Morgan,...,. Clinton,..,. Other Morgan County,...,. Farmington,...,... Fruit Heights ,....,. Kaysville,.,...,. Layton Piute County,...,.,. North Salt Lake Kingston.. South Weber Other Piute County.. Sunset,...,. Syracuse... West Bountiful,...,. West Point,...,. Woods Cross.. Other Davis County,.,.,.,.,

17 Detail Table Permit-Authorized Construction in Utah June Additions, Alterations, Repairs Additions, Alterations, Repairs Construction Construction ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) Rich County Utah County Garden City.. Alpine,...,. Randolph Other Rich County American Fork Cedar Hills,.,....,.,... Elk Ridge Eagle Mountain,..,. Goshen... Salt Lake County Highland,...,. Bluffdale,....,. Lehi,....,. Draper,.,...,. Lindon,...,. Midvale,....,. Mapleton,...,. Murray Riverton,.,.,....,..,.,. Orem Payson,.,.,......,.,. Salt Lake City,.,.,.,.,. Pleasant Grove,....,. Sandy,.,..,.,. Provo,.,...,. South Jordan,.,..,. Salem,.,. South Salt Lake..... Santaquin.. West Jordan,.,...,. Spanish Fork,....,. West Valley City,....,. Springville,....,. Taylorsville,....,. Vineyard Herriman Other Salt Lake County,.,..,....,.,. Woodland Hills Saratoga Springs,.,..,.,.,.,.,.,.,. Other Utah County,...., ,.,.,.,., San Juan County Blanding Wasatch County Monticello Heber City,...,. Other San Juan County... Midway Other Wasatch County,.,....,., Sanpete County Centerfield.. Washington County Ephraim... Enterprise... Fairview.. Hurricane,...,. Fayette.. Ivins.... Fountain Green La Verkin.. Gunnison Manti..... Leeds Santa Clara... Mayfield.. Springdale Moroni.. St. George,.,...,. Mt. Pleasant... Virgin... Spring City.. Washington Sterling Other Washington County,..,. Wales..,.,...,. Other Sanpete County , ,.. Wayne County Hanksville Sevier County Loa Glenwood Other Wayne County.... Other Sevier County,...,.....,..., Weber County Summit County Coalville.. Farr West Harrisville,....,.. Kamas... Huntsville Oakley... North Ogden,...,. Park City,.,.,.,.,. Ogden,.,..,.,. Other Summit County,...,. Plain City,...,.,.,.,.,.,. Pleasant View Riverdale Tooele County Grantsville...,. Roy South Ogden Uintah,.,......,.,. Tooele,....,. Washington Terrace..... Wendover Other Weber County,..,. Other Tooele County,.,..,.,.,..,.,.,.,..., Uintah County State,,.,.,.,.,. Vernal Other Uintah County

18 Detail Table Permit-Authorized Construction in Utah January through June Additions, Alterations, Repairs Construction - ($) - ($) - ($) - ($) - ($) - Number County/City Beaver County -., ,... Beaver Milford Other Beaver County -., ,. -.,. -. Box Elder County -., ,. Brigham City Corinne.... Deweyville Elwood Garland Howell Mantua -., ,. -. Perry - - Plymouth Portage Snowville -., ,. -. Tremonton Willard., ,.. Other Box Elder County -.,. -...,. -.,..,. -. Cache County Amalga Clarkston Cornish -., Hyde Park -.,....,. -.,. -. Hyrum Lewiston.,. -.,....,..,.. Logan Mendon Millville ton -., ,. -. Nibley., ,.. North Logan Paradise., ,. Providence Richmond River Heights -., ,.. Smithfield Trenton., ,. -. Wellsville.,. -...,. -.,. -. Other Cache County.,. -.,. -.,..,..,.. Carbon County East Carbon Helper -., Price Scofield Sunnyside Wellington., ,. -. Other Carbon Co -., ,..,. -. Daggett County.... Manila,.... Other Daggett County,..... Davis County.,..,. -.,..,..,.. Bountiful., ,. -.,. -. Centerville., ,..,.. Clearfield., ,. -. Clinton., ,.. Farmington -., ,. -. Fruit Heights., ,..,.. Kaysville.,..,....,..,.. Layton., ,..,. -. North Salt Lake.,......,.. South Weber Sunset., ,.. Syracuse -., West Bountiful., ,.. West Point., ,.. Woods Cross., ,.. Other Davis County.,..,. -.,..,..,..,

19 Detail Table Permit-Authorized Construction in Utah January through June Additions, Alterations, Repairs Construction - ($) - ($) - ($) - ($) - ($) - Number County/City Duchesne County Duchesne Roosevelt -., ,. -. Other Duchesne County -., ,. -. Emery County Ferron Green River Huntington Orangeville -., Other Emery County -., , Garfield County Antimony Boulder - - Cannonville Escalante Hatch - - Henrieville Panguitch -.. ********* Tropic -., ,.. Other Garfield County -., ,. Grand County Moab -., Other Grand County -., ,. Iron County.,..,....,. -.,. -. Cedar City Paragonah., Parowan -., ,. -. Other Iron County.,..,....,. -.,. -. Juab County Eureka.,....,... -.,. -. Nephi., Other Juab County.,....,..,. -.,. -. Kane County... - Glendale -., ,. Kanab Orderville -., ,. -. Other Kane County -., ,. -. Millard County Delta Fillmore Hinckley Kanosh Lynndyl Oak City.,......,.. Other Millard County., ,..,. -. Morgan County.,.....,. Morgan.,. -...,..,.. Other Morgan County.,. -...,..,.. Piute County Kingston Other Piute County

20 Detail Table Permit-Authorized Construction in Utah January through June Additions, Alterations, Repairs Construction - ($) - ($) - ($) - ($) - ($) - Number County/City Rich County -., Garden City Randolph Other Rich County -., Salt Lake County -., ,. -.,. -. Bluffdale.,.., ,..,.. Draper -.,..,....,. -.,. -. Midvale.,. -.,....,. -.,. -. Murray., ,..,.. Riverton.,. -.,..,..,..,.. Salt Lake City -.,. -.,. -.,. -.,. -.,. -. Sandy., ,..,.. South Jordan.,..,...., South Salt Lake.,. -.,..,..,..,.. West Jordan -.,.., ,..,.. West Valley City., ,..,. -. Taylorsville., ,.. Herriman -.,. -.,. -.,. -.,. -.,. -. Other Salt Lake County.,. -.,..,. -.,..,.., San Juan County Blanding Monticello -., ,. -. Other San Juan County -., ,. -. Sanpete County Centerfield -., Ephraim Fairview Fayette Fountain Green Gunnison Manti Mayfield Moroni., Mt. Pleasant Spring City. - - Sterling... Wales., ,.. Other Sanpete County., ,. -. Sevier County Glenwood -., ,. -.,. -. Other Sevier Co -., ,. -.,. -. Summit County Coalville Kamas., ,. Oakley.,. -.,..,..,. -.,. -. Park City.,....,. -.,..,.. Other Summit County.,. -.,..,..,..,. Tooele County -., ,. -. Grantsville., ,. -.,. -. Tooele Wendover., ,. -.,. -. Other Tooele County., ,. -.,. -. Uintah County -., ,..,.. Vernal -., ,. -. Other Uintah County -., ,. -.,. -.

21 Detail Table Permit-Authorized Construction in Utah January through June Additions, Alterations, Repairs Construction - ($) - ($) - ($) - ($) - ($) - Number County/City Utah County., ,.. Alpine.,..,....,. -.,. -. American Fork -., ,. -. Cedar Hills.,... -.,. Elk Ridge -.,. -.,. -.,. -. Eagle Mountain... Goshen., ,.. Highland.,..,..,. -.,..,.. Lehi., ,..,.. Lindon., ,.. Mapleton -.,. -.,. -.,..,. -.,. -. Orem -., ,.. Payson., ,..,.. Pleasant Grove.,. -.,..,..,..,.. Provo., ,. Salem., ,.. Santaquin.,..,. -...,..,.. Spanish Fork -.,. -.,... -.,..,.. Springville Vineyard.,...,. Woodland Hills.,......,.. Saratoga Springs.,..,....,..,.. Other Utah County.,..,..,..,..,.., Wasatch County -., ,..,.. Heber City -., ,. -. Midway -.,....,. -.,. -. Other Wasatch County -.,. -...,..,. -.,. -. Washington County Enterprise -., ,. -. Hurricane -., ,. -. Ivins -., La Verkin Leeds -., ,.. Santa Clara.,......,..,. Springdale -.,. -., ,. -.,. -. St. George Virgin -., ,.. Washington., ,..,.. Other Washington County -.,. -.,. -.,. -.,. -.,.. Wayne County Hanksville Loa.,., ,. - Other Wayne County.,., ,. -. Weber County -., ,.. Farr West -., ,. Harrisville Huntsville -., ,. -. North Ogden -.,..,..,. -.,. -.,. -. Ogden., ,.. Plain City.,......,..,. -. Pleasant View -., ,. -. Riverdale -., ,. -. Roy -., ,..,.. South Ogden... Uintah -., , Washington Terrace -., ,. -.,. -. Other Weber County -.,..,..,. -.,. -.,. -..,,. -.,..,. -.,..,,.., State

22 Detail Table Permit-Authorized by Type January through June Multi- Mobile/ Multi- Mobile/ Single- family/ Duplex/ Manuf./ Single- Single- family/ Duplex/ Manuf./ Singlefamily Condo Twin Home Cabin family family Condo Twin Home Cabin family County/City County/City Duchesne County Beaver County Duchesne Beaver Roosevelt Milford. Other Duchesne County Other Beaver County.. Emery County Box Elder County Ferron. Brigham City Green River Corinne Huntington Deweyville Orangeville Elwood. Other Emery County Garland. Howell Mantua Garfield County Perry Antimony Plymouth Boulder Portage Cannonville Snowville Escalante. Tremonton Hatch Willard Henrieville. Other Box Elder County Panguitch. Tropic. Other Garfield County Cache County. Amalga Clarkston Grand County Cornish. Moab Hyde Park. Other Grand County Hyrum. Lewiston. Logan Iron County Mendon. Cedar City Millville Paragonah ton Parowan Nibley. Other Iron County North Logan. Paradise. Providence Juab County Richmond Eureka River Heights Nephi. Smithfield Other Juab County Trenton. Wellsville. Other Cache County Kane County. Glendale. Kanab Carbon County Orderville East Carbon. Other Kane County Helper. Price Scofield Millard County Sunnyside Delta Wellington Fillmore. Other Carbon Co Hinckley. Kanosh Lynndyl Daggett County Oak City Manila. Other Millard County. Other Daggett County. Morgan County Davis County Morgan. Bountiful. Other Morgan County. Centerville. Clearfield Clinton Piute County Farmington Kingston Fruit Heights Other Piute County. Kaysville. Layton. North Salt Lake. South Weber Sunset. Syracuse West Bountiful West Point Woods Cross Other Davis County.,,

23 Detail Table Permit-Authorized by Type January through June County/City Singlefamily Single- family Mobile/ Manuf./ Duplex/ Cabin Twin Home Singlefamily County/City Singlefamily Mobile/ Manuf./ Duplex/ Cabin Twin Home Multifamily/ Condo Multifamily/ Condo Rich County Garden City Randolph Other Rich County Salt Lake County Bluffdale Draper Midvale Murray Riverton Salt Lake City Sandy South Jordan South Salt Lake West Jordan West Valley City Taylorsville Herriman Other Salt Lake County San Juan County Blanding Monticello Other San Juan County Sanpete County Centerfield Ephraim Fairview Fayette Fountain Green Gunnison Manti Mayfield Moroni Mt. Pleasant Spring City Sterling Wales Other Sanpete County Sevier County Glenwood Other Sevier Co,, Utah County Alpine American Fork Cedar Hills Elk Ridge Eagle Mountain Goshen Highland Lehi Lindon Mapleton Orem Payson Pleasant Grove Provo Salem Santaquin Spanish Fork Springville Vineyard Woodland Hills Saratoga Springs Other Utah County Wasatch County Heber City Midway Other Wasatch County Washington County Enterprise Hurricane Ivins La Verkin Leeds Santa Clara Springdale St. George Virgin Washington Other Washington County Wayne County Hanksville Loa Other Wayne County,, Summit County Coalville Kamas Oakley Park City Other Summit County Tooele County Grantsville Tooele Wendover Other Tooele County Uintah County Vernal Other Uintah County Weber County Farr West Harrisville Huntsville North Ogden Ogden Plain City Pleasant View Riverdale Roy South Ogden Uintah Washington Terrace Other Weber County State total,,,

24 Detail Table Construction by Type, by County January through June Number of Buildings of State ($) Beaver County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...,...., Box Elder County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...., ,.. Cache County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)......,..,.,......,..,.,....,.,.,.

25 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Carbon County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)..., Daggett County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Davis County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors),,......,..,.,.,..,..,.,..,....,.,.,.

26 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Duchesne County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)..., Emery County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Garfield County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)

27 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Grand County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...., Iron County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).....,., ,....,.,. Juab County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).., ,..

28 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Kane County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).....,..., Millard County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).., Morgan County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)..,

29 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Piute County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Rich County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Salt Lake County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors),,, ,.,.,.,.,.,...,.,.,.,..,.,.,..,.,..,.,.,.,.,.

30 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) San Juan County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Sanpete County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...., Sevier County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...,

31 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Summit County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)....,..,..,.,....,,...,.,.,.,. Tooele County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).....,.,.,.,...,.,..,..,....,... Uintah County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)....,

32 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Utah County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors),,......,.,.,.,.,.,..,..,.,.,..,.,.,..,.,.,.,.,.,.,.,. Wasatch County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)..,......,..,.. Washington County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors).....,.,.,.,..,.,.,....,...,.,.,.

33 Detail Table SUMMARY CONSTRUCTION STATISTICS January through June Number of Buildings of State ($) Wayne County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)...., , Weber County Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors)......,.,.,..,...,.,..,.,..,...,.,. STATE SUMMARY Apartments - or Apartments - or more (up to floors) Apartments - or more (more than floors) Bldgs. Offices, Bank and Professional Bldgs.,,,,,,,,.,.,.,.,.,.,.,.,.,.,.,.,..,.,.,.,.,.,.,.,.,.,.,.,.

34 Bureau of Economic and Business Research University of Utah E Campus Center Drive, Room Salt Lake City, Utah - Nonprofit Org. U.S. Postage Paid Salt Lake City, UT Permit No. Address Service Requested Second Quarter Highlights!Through the second quarter of, construction valuation hit an all-time high of $. billion, which includes $. billion for residential construction, $ million for nonresidential construction and $ million for additions, alterations and repairs.!despite a slowdown in economic and demographic growth, residential construction activity is up over last year. Through the second quarter the number of new residential dwelling units increased. percent to, units.!multifamily units, which have rebounded significantly in, account for about one of four new dwelling units in. The number of multifamily units in totals,, which is percent higher than in. Part of the renewed strength in the multifamily sector is due to the surge in condominium activity, new condominium units have received building permits in.!for the first time ever, Salt Lake County is not leading all other counties in single-family construction Through the second quarter, Utah County has a slight lead with, single-family units compared to, units in Salt Lake County.!Although nonresidential value is down percent, still ranks as the third highest in nonresidential valuation with $ million. The largest nonresidential project so far this year is the new Salt Lake City Library valued at $ million. UTAH CONSTRUCTION REPORT VOLUME NO. University of Utah J. Bernard Machen President Research Staff James A. Wood Jan E. Crispin Alan E. Isaacson Pam Perlich Senior Economist Senior Economist Research Analyst Senior Research Economist David Eccles School of Business Jack W. Brittain Dean Bureau of Economic and Business Research R. Thayne Robson Director Office Staff Cathy Crawford Diane S. Gillam Administrative Assistant Accountant/Editor The University seeks to provide equal access to its programs, services, and activities to people with disabilities