In Utah, builders along the Wasatch Front took out in February 404 permits for the construction of new single-family homes, up more than 42 percent from 284 permits in February 2011, according to Construction Monitor, a service that tracks building activity throughout the West.Homebuilding activity along the Wasatch Front peaked in 2006 and early 2007 before plummeting as the housing bubble burst. In February 2006, builders took out permits for the construction of 1,092 homes, with permits falling to 905 in February 2007 and 269 in February 2008.
Though new homes represent just 20 percent of the overall home market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders. Salt Lake Tribune
