NAI West recently completed its Mid-Year Market report detailing the state of the economy in Utah, and more specifically the state of Utah property investment. A few of the highlights are below:
A few of the highlights of the market report are as follows:
- Utah has the 3rd lowest unemployment rate in the US at 6%.
- Just under $1 MM square feet of industrial spec space has been completed and most of it has been absorbed.
- Overall office vacancy is down to 13.98% with Class A office space at 9.43%.
- Positive retail absorption for the 3rd straight quarter.
- Property investment market remains strong with volumes very similar to the first half of 2011.