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Photo: COURTESY Rosecrest
Life Real Estate
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f the real estate gods have been capricious and cruel to the national economy during the Great Recession, they’ve been less so to Utah’s economy. Fundamentals suggest why: • It took some doing in the annual legislative session in January and February 2010, but the Utah State 2011 budget is in balance and $209 million is still left in the Rainy Day Fund. • Utah showed modest positive year-over-year job growth in May 2010, the first growth since 2008. • As of May 2010, the state unemployment rate is 7.3 percent, nearly 2.5 percentage points lower than the national rate. • In 2010 Business Facilities magazine ranked Utah as the nation’s best state for Quality of Life. The magazine gave the state top-10
There are many styles of custom homes to choose from in Salt Lake
Single family construction increased by nearly 1,050 homes to 6,550 homes in the past year.
rankings in Business Climate, Education 72 72
Climate, Economic Growth Potential, Employment Leaders, Transportation Infrastructure and Business Tax Climate. • Average annual pay in Utah rose 0.8 percent in 2009 and is projected to grow another 1.5 percent in 2010. • Retail sales in Utah are projected to increase 2.4 percent in 2010 after dropping in 2009. • Permits for new home construction is projected to grow nearly 50 percent in 2010 and nearly another 25 percent in 2011. • Year-over-year traffic at Salt Lake City International Airport, both in terms of cargo and passengers, is up in the first half of 2010 over 2009. • The foreclosure rate in Utah is just 3.4 percent, the nation’s 28th lowest. • The State’s population growth rate is 2.1 percent, the nation’s second fastest.