Ivory-Boyer Construction Database
The Kem C. Gardner Policy Institute, in partnership with the Ivory-Boyer Real Estate Center, tracks building permit activity across the state, publishing the quarterly Ivory-Boyer Construction Report and maintaining the Ivory-Boyer Construction Database. The construction report provides in-depth analysis of both residential and non-residential trends. The public-use database contains 40 years of detailed monthly permit data for Utah localities. Real estate professionals, planners, economists, researchers, business, leaders, and public officials rely on the report and database to make informed decisions.
Ivory-Boyer Construction Report, First Quarter 2020
As this report reflects the first three months of 2020, the severe economic impacts of the COVID-19 health pandemic are not yet captured. Without knowing what lay ahead, based on first-quarter figures, one could have forecast 2020 as one of the best construction years on record. Total permitted construction value for the first quarter exceeded $2.5 billion, a record. This was led by a surge in the residential sector, with new permitted units increasing by 47.7% over last year, and a 46.5% increase in additions, alterations and repairs. However, as the impacts of the health pandemic continue to ravage the[...]
Ivory-Boyer Construction Report, Year-End 2019
In 2019, the value of permit-authorized construction in Utah totaled $9.8 billion, the highest year ever in both current and inflation-adjusted dollars. Sixty percent of the total construction value was in the residential sector, which rose 12.5% from 2018 to $5.8 billion. The strength of the residential sector is a result of robust growth in multifamily development. Apartments alone experienced an 80.6% increase in units from 2018. Nonresidential construction value in 2019 was $2.6 billion. Activity in the office and professional, and industrial and warehouse sectors drove commercial construction value in the state at $693.2 million and $671.9 million, respectively.[...]
Ivory-Boyer Construction Report, 3rd Quarter 2019
This year is shaping up to be another record year for Utah’s construction industry. Through the third quarter of 2019, the total value of permit-authorized construction is $7.4 billion, surpassing the pre-recession high of $7.2 billion in 2007 (inflation-adjusted). The residential sector accounts for 60% of the total statewide value. Most of the residential growth is in apartments.
Ivory-Boyer Construction Report, 2nd Quarter 2019
The total statewide value of permit authorized construction in Utah during the first half of 2019 is $4.7 billion (Table 1). The residential sector accounts for almost two-thirds of statewide construction value, totaling $2.9 billion. Activity in the commercial sector remained strong through the second quarter bringing total nonresidential construction value to $1.2 billion, a 13.5 percent increase from mid-year 2018.
Ivory-Boyer Construction Report, 1st Quarter 2019
The total statewide value of permit authorized construction during the first quarter of 2019 is $2.0 billion. This value is within a few million dollars of an all-time first quarter high in 2018 (inflation adjusted). Nonresidential construction value is particularly strong with a total of $641 million, up 35 percent over 2018. The number and value of residential permits issued, however, are down from the strong first quarter of 2018. Nevertheless, first quarter 2019 is still the second highest year in residential value since 2006 and the second highest in residential permits since 2007.
Ivory-Boyer Construction Report, Year End 2018
Utah’s construction activity in the fourth quarter of 2018 tapered off. However, due to a strong start in the beginning of the year, the statewide value of construction totaled nearly $8.5 billion, a 3.3 percent increase from 2017. Residential construction remained the driving force behind Utah’s construction industry, comprising 61 percent of the state’s total construction value in 2018. This year saw a 5.5 percent increase in the total number of residential units, with 24,241 units, the highest number of units in 12 years. Nonresidential construction remained above $2 billion for the year, for the fourth year in a row,[...]
Ivory-Boyer Third Quarter Construction Report 2018
Utah’s construction activity remains strong through September 2018. The year-to-date statewide value of construction in 2018 eclipsed $6.5 billion, a five percent increase over third quarter 2017. Residential construction remains the principle driver at $4 billion statewide, 61 percent of total construction value, a share not seen since 2006 (Figure 1). Year-to-date, 18,761 permits have been issued for residential units, over 1,000 more units than this time last year. Third quarter permits for residential units in 2018 are eight percent less than third quarter 2017. It is likely the state will see more growth in 2018 than 2017 and
Ivory-Boyer Second Quarter 2018 Construction Report
The value of all permit authorized construction in Utah during the first half of 2018 was $4.3 billion. Residential construction has been the principle driver at $2.7 billion, a 15.9 percent increase from mid-year 2017. Similarly, the number of building permits for new residential permits is up 13.7 percent from 2017, with 12,772 permits issued statewide (Figure 1). Condominium, townhome, and duplex permits led the state in residential growth with a 25 percent increase in units from January through June 2018. Nonresidential construction experienced a 15.4 percent drop in value compared to mid-year 2017. Additions, alterations, and repairs experienced a[...]
Ivory-Boyer First Quarter Report 2018
The value of all permit authorized construction in Utah during the first quarter of 2018 was $2 billion. This is a 7.5 percent increase from first quarter 2017. This rise was led by an increase in residential construction which represented 64 percent of total construction value this quarter. Overall, construction values rose after two consecutive quarterly declines in 2017.
Ivory-Boyer Fourth Quarter Report 2017
The value for all types of permit authorized construction totaled $8.21 billion, a 3.9 percent decrease from 2016 (inflation adjusted dollars) (see Figure 1). The decline in total construction value can be attributed to Salt Lake City issuing a permit for $566 million in 2016 for the redevelopment of the Salt Lake City International Airport. Without this permit, the total construction value for 2017 would be approximately 3 percent higher than in 2016.