Mountain Regional Forecast
Arizona • Colorado • Idaho • Montana • Nevada New Mexico • Utah • Wyoming
This market is a study of contrasts in 2010. Colorado and Utah have low unemployment and solid increases in building permits, while Las Vegas and Phoenix, two housing champions of the past, are among the nation’s leaders in home foreclosures. Nevada is suffering from massive unemployment and its 14.4% jobless rate is the nation’s worst. Construction layoffs account for much of that sorry number, and the state lost 14,200 construction jobs in the past 12 months. Renewable and tech construction led the project parade in this region. A $500 million wind farm is under construction in Idaho; Wyoming is adding to its wind portfolio with a new $400 million wind farm; and a $139 million solar plant is under construction in Colorado. Three large data centers are being built in Arizona, Colorado and Wyoming, and Denver is building a new rail and bus terminal.