The number of building permits issued for new single-family homes in Tooele County as of July 31 dropped by 4 percent in 2014 as compared to the same time period last year.
Statistics from local building officials show Grantsville City is down 11 single-family building permits from 2013, and Stansbury Park is down 10.
Tooele County issued 10 more building permits for Erda in the first seven months of 2014 compared to 2013, and single-family building permits issued by Tooele City for the same time period jumped ahead by one.
There are plenty of new residential developments approved, but builders may have been caught with few shovel-ready lots prepared for new homes as home sales picked up during the last year, according to Chris Sloan, broker for Group 1 Real Estate Tooele.
“Grantsville had more shovel ready lots available last year and fell behind this year,” he said. “There has been several developments approved by Tooele City recently, so there will be more building lots available soon.”
The increase in home sales has reduced the inventory of homes on the market in Tooele County, but there is still a six month supply of homes available, which is on the cusp between a buyer’s and a seller’s market, according to Sloan.
The August Tooele County Planning Commission meeting included a review of proposed plats or concept plans for 495 new homes in five projects.
The Tooele City Planning Commission also recently approved a couple of new developments, Sloan said.
There were 363 single-family building permits issued throughout Tooele County and its municipalities by July 31, 2007. That number dropped to 161 in 2008 as the Great Recession hit the county. The drop continued in 2009 with 88 single-family building permits issued by July 2009.
Since 2010 the number of single-family building permits in Tooele County has been on a slow climb.
While single-family homes in Tooele City are about par with last year, the number of multi-family units are on the increase, according to Richard Jorgensen, Tooele City land use technician.
“Last year we had 24 apartment units built in Overlake,” he said. “This year there have been 36, also in Overlake.”
Jorgensen expects the number of multi-family units in Tooele City to increase by the year’s end because an old planned unit development project at 600 West and 800 North has come to life again.
“Originally approved in 1997, the developer has now renewed his plans,” Jorgensen said. “These units will be town home like units that look like a six or eightplex with an attached wall that people will purchase. The builder recently took out a permit for eight units. There are 46 units left to be built in the development.”
The settlement of the lawsuit between Tooele City and the developer of Overlake will also contribute to more home building, according to Sloan.
“The settling of the lawsuit opens up some prime real estate for construction,” he said. “It should be a good year.”