Five months of 2012 construction permitting data are now available from the University of Utah’s Bureau of Economic and Business Research. Until at least six months of permitting data are available, the figures are subject to notable changes (construction data tends to be among the most erratic economic indicators). Statewide, January to May 2012 home permits bounced up 31 percent compared with the same time frame last year. In addition, new nonresidential permit values are up 23 percent year-to-year. As you look at this data, remember that permitted-values change rapidly—particularly when it comes to commercial building and these early figures may be reflect large percent changes which will evaporate as more permitting occurs. Here are a few other interesting points from this data release:
- Rapid employment expansion in the oil and gas fields of the Uintah Basin seems to be spurring new the highest home demands from workers. Uintah County showed the most rapid expansion in new home permits.
- Among metropolitan counties, Davis County, Cache and Washington counties show the only home-permit increases.
- Washington County’s permits are up 32 percent from last year—its best performance since the recent housing bubble collapsed.
- On the nonresidential side, new projects in the eastern/Uintah Basin portion of the state are driving large gains in permit values. Morgan, Summit, Sevier, Juan, Garfield, and Box Elder counties also showed strong residential permitting gains.
For detailed construction permit data, click
here.
