New Home Construction Plummets in Utah-Condo and Apartment Permits Up
The number of building permits issued for new residential units in Utah dropped by 22 percent in 2007, the biggest decline in more than two decades, according to new data released today by the University of Utah’s Bureau of Economic and Business Research (BEBR). The total number of dwelling permits issued in 2007 was 20,535 down from the 26,322 in 2006. New single-family units, which accounted for about two-thirds of all new dwelling units, declined at an even faster pace, dropping from 19,900 units in 2006 to 13,500 units in 2007, a decline of 32 percent.
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