Pub. 2 2019-2020 Issue 1

10 information about them is usually included in data about office totals. Residential Spending • People havemoney to buy homes because of low interest rates, increased income and wealth, but builders are having problems finding workers and getting permits. • Multifamily occupancy rates and rents are level. Although somemillennials are (slowly) moving to houses, that is being offset by seniors moving to apartments. There are more high-rises, andmost multifamily con- struction is for rentals, not condos. • Data is weak for construction additions and renovations, but it should closely track homebuying. Construction Employment • The two hottest construction markets between Sept. 2018 and Sept. 2019 were Ogden-Clearfield, Utah, at 6% (up 5% from the peak until September 2019), and Provo- Orem, Utah, at 4% (up 4% from the peak). • Logan, Salt Lake City, and St. George are all down from the peak, but between Sept. 2018 and Sept. 2019, Logan grew 9%, Salt Lake City grew2%, and St. George grew5%. By Sept. 2019, Logan had lost 3% from its peak, Salt Lake City had lost 4% from its peak, and St. George had lost 9% from its peak. 3 continued from page 9