After 2012 Parade of Homes, Permit Levels Will Tell the Tale

By Alex Girda, Associate Editor Like many other cities whose housing markets took a punch during the recession, Salt Lake City is still looking for clear signs of recovery. It remains to be seen how the designs showcased at the 2012 Salt Lake Parade of Homes impressed prospective homebuyers, but the volume of new home permits [...]

Like many other cities whose housing markets took a punch during the recession, Salt Lake City is still looking for clear signs of recovery. It remains to be seen how the designs showcased at the 2012 Salt Lake Parade of Homes impressed prospective homebuyers, but the volume of new home permits in the next several months will offer unmistakable clues to the market’s direction.

Through the first seven months of 2012, new home permits totaled 3,788. That is far below than the 7,200 recorded at the market’s peak from January through July 2007, but it also represents a 28 percent increase compared to the same period in 2010.

This year’s Parade of Homes showcased properties from around the area that represent a broad spectrum of sizes and styles. In addition to the 23 properties built specifically for the event, the parade presented a dozen other designs. Most models were priced between $200,000 and $400,000, while four designs carried price tags between  $800,000 and $900,000.

Image courtesy of SaltLakeParade.com

For additional Salt Lake City market data, click here.