It looks like the Utah economy may get some help from the new home building market this year, although it will be modest. Approved home building permits remain at only half of what they were throughout most of the 1990s and early 2000s, but they are running better through the first half of this year than last year. Both the homebuilders and realtor communities are more upbeat about the Utah housing market than they have been for several years. Builders have nearly cleared their excess inventory, and realtors are speaking of more traffic and multiple offers for existing homes. Population has continued to grow throughout the recession period, so one would surmise that pent-up demand is building and will eventually spring forth at some time in a new homebuilding surge, but probably not in 2012.
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