Housing, Construction & Real Estate
The Kem C. Gardner Policy Institute provides leading real estate and construction research for the State of Utah. Our research provides decision makers with critical information about residential and non-residential construction trends and issues. In addition to construction research, our work focuses on housing research related to affordability and market stability. Our team works closely with real estate professionals, planners, economists, researchers and business, and community leaders to make informed decisions about the Utah economy.
Ivory-Boyer Second Quarter Report 2017
Construction activity has had a strong start in 2017, with the mid-year numbers at the highest level in 10 years. The number of building permits issued for residential units through the first six months was 11,145, nearly 22 percent higher than 2016 and the highest mid-year level since 2007 (see Figure 1). Total construction valuation at $4.1 billion was also at the highest midyear level since 2007 and five percent above 2016 (see Figure 2).
Ivory-Boyer Year-End Construction Report, 2016
For the sixth consecutive year, permit authorized construction increased in Utah. The value for all types of permit authorized construction totaled $8.17 billion, the second highest value in Utah’s history
Ivory-Boyer First Quarter Report 2017
The value of all permit authorized construction in Utah during the first quarter of 2017 was $1.92 billion, a three percent decrease from the first quarter of 2016. While a relatively minor decrease, it is the first decline in first quarter total construction value since 2012. The slowdown in overall construction was attributable to the 30 percent decline in nonresidential construction value.
Salt Lake City’s Rental Market: Past, Present, and Future
The development of rental housing in downtown Salt Lake City has always been prone to periods of intense activity followed by years of inactivity. A look back at apartment development in this area shows that prior to the early 20th century, housing in downtown was limited to detached single-family units. Tenement and row housing, common features in some downtown markets, were never part of the housing patterns of Salt Lake City.