Mountain Regional Forecast
Arizona • Colorado • Idaho • Montana • Nevada • New Mexico • Utah • Wyoming
While Salt Lake City sometimes gets overlooked because of the other largest metropolitan areas in the region — Phoenix, Denver/Colorado Springs and Las Vegas — it may come out of the recession earlier than these markets. Its unemployment rate is under six percent. And while Denver, Phoenix and Las Vegas have seen building permits drop more than 50 percent year-to-year through August, Salt Lake City's total building permits are down “just” 23 percent. The largest construction projects in the region include the Las Vegas VA Medical Center; Intel's semiconductor plants in Arizona and New Mexico; and two factories being built by global wind giant Vestas in Brighton, Colo. It may take several years for the housing markets to wake up in Phoenix and Las Vegas.