Salt Lake City, UT

The pandemic housing boom is visible in Salt Lake City’s construction market.

Total volume has grown by almost 20% since April 2020. This was almost entirely due to the residential sector, which grew by more than 20% in 2020 and 2021. The rest of the market did not change that much. Many of these projects have finished, and 2022 is predicted to see the market return to normal. This is a decline from the previous year, but the market is still improving upon its pre-pandemic level.

Thanks to its status as Utah’s capital, Salt Lake City enjoys relative insulation from economic shocks. Approximately one in five workers are employed by state, municipal, or federal governments. Another one in five works in transportation in some capacity. These industries are uniquely positioned to benefit from a shift away from brick-and-mortar stores and towards online commerce. Government employees are at the whims of booms and recessions in the same way that the private sector is, and the logistics sector has enjoyed constant, sustained demand for the past decade. These factors keep a significant chunk of workers employed, and these workers can stimulate demand for the remainder of the economy.

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* Other structures include religious buildings, amusement, government communications, and public recreation projects.
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