Utah Ranks No. 3 in Housing Growth Nationwide

The U.S. Census Bureau released estimates Thursday saying that in 2011, the number of housing units in Utah were up from 979,709 to 993,060 — an increase of 13,351, or 1.36 percent.

Utah ranks No. 3 in housing growth nationwide

Utah achieved the nation’s third-fastest growth last year in housing units, including homes, apartments and condominiums. But area homebuilders and economists say growth remained slow — it was just better than other states where lingering effects of the recession are even worse.


Housing unit growth

■National average in 2011: 0.5 percent.

■Utah in 2011: 1.36 percent (No. 3 in nation).

■Highest growth in Utah: Summit County, 3.25 percent (No. 27 in nation).

■Lowest growth in Utah: San Juan County, minus 0.21 percent (meaning more housing was demolished than was built).
Source: U.S. Census Bureau

"In 2011, we had slight growth — and it was welcomed by many," said Robert Nelson, president of the Home Builders Association of Utah.  He said that homes priced between $170,000 and $230,000 "seem to be doing pretty well, but other markets seem to be slow." "I’m surprised that we ranked third. We are at very low levels" of new construction, said James Wood, director of the Bureau of Economic and Business Research at the University of Utah.

The U.S. Census Bureau released estimates Thursday showing the number of housing units in Utah were up from 979,709 in 2010 to 993,060 in 2011— an uptick of 13,351, or 1.36 percent. That was almost triple the average national growth of 0.5 percent. The only states that fared better than Utah were Wyoming, with 1.4 percent growth, and Alaska, with 1.38 percent.

Nelson said reports from other homebuilders nationally indicated to him that Utah "had a lot of homes that were foreclosed on, but maybe not as many as the other states"— helping to create a bit higher demand for new housing here.

Wood said Utah in recent years has ranked in the middle of the pack among states for foreclosures, but such homes tend to resell relatively quickly.


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By Lee Davidson

The Salt Lake Tribune
First Published Jun 14 2012 04:18 pm • Last Updated Jun 14 2012 11:46 pm