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As confidence mounts, American Fork new homes on the rise

By Danny Crivello - | Jan 30, 2013

Builders in American Fork started work on homes at the fastest pace in four years, as the housing market recovery is solidifying, the latest data from American Fork City show.

American Fork City said it issued 71 new single-family home permits in 2012, a 37 percent increase year over year and a 195 percent jump since 2009, when the housing crisis hit hardest. Last year’s permits have a valuation of roughly $19 million and don’t include commercial constructions, which add another $10 million.

Figures for new commercial construction permits in American Fork, which have been on a positive trajectory for four years, have tripled since 2009. The American Fork Citizen reported earlier this month that December’s sales tax revenues were the highest in eight years, when comparing same months.

The trend in American Fork parallels the national trend, as the U.S. Commerce Department said recently that builders broke ground on houses and apartments at double the recession low reached in April 2009.

Utah County’s low unemployment rate, record-low mortgage rates and a reduced supply of new and previously occupied homes available, partly due to the addition of Adobe and the National Security Agency’s Utah Data Center, have boosted sales and prices — and persuaded builders to start more homes, which adds to economic growth and hiring.

In the latest sign of builder confidence, a developer this month sought approval from the American Fork Planning Commission to build no fewer than 18 lots on a new subdivision near the historic Star Mill at 600 North and 150 East. The Planning Commission recommended approval of the plan based on various conditions. 

Danny Crivello can be reached at crivello@citizen.af, via text at 801-477-6397 or on Twitter.

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