Leading, Slipping, Gaining, Lagging Analysis:
Assessing Real Estate and Rental and Leasing Employment Growth
Across Utah Counties
Real Estate and Rental and Leasing
Employment Growth
County vs Statewide Average: 2010-2022 and 2022
Real Estate and Rental and Leasing
Employment Growth
Utah:
2010-2022 = 4.24%
2022 = 10.03%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of real estate and rental and leasing employment growth across all of Utah's 29 counties. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this Utah Regional Economic Analysis Project report, we adopt this approach to gauge and compare the real estate and rental and leasing employment growth of Utah's 29 counties over the latest available year (2022) against the backdrop of their growth over the long term period (2010-2022). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Real Estate and Rental and Leasing
Employment Growth
County vs Statewide Average: 2010-2022 and 2022
Real Estate and Rental and Leasing
Employment Growth
Utah:
2010-2022 = 4.24%
2022 = 10.03%
This figure displays the 29 counties of Utah as dots on a scattergram, with the vertical axis representing the average annual real estate and rental and leasing employment growth rate over the long-term period (2010-2022), and the horizontal axis representing the real estate and rental and leasing employment growth rate for the near-term (2022).
This figure sets apart those counties whose long-term real estate and rental and leasing employment growth exceeded the statewide average of 4.24%, by portraying them in the top two quadrants demarcated at 4.24% on the vertical axis. County whose long-term average annual real estate and rental and leasing employment growth rate trailed the statewide average (4.24%) are distributed in the bottom two quadrants. In all, 8 counties surpassed the statewide average over 2010-2022, while 8 counties fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 10 counties whose most recent (2022) real estate and rental and leasing employment growth rate exceeded the statewide average (10.03%). The two quadrants on the left feature those 6 counties whose real estate and rental and leasing employment growth over 2022 trailed the statewide average.
Accordingly, each quadrant portrays the performance of all 29 counties corresponding with their long-term (2010-2022) and near-term (2022) performance relative to their respective statewide averages of 4.24% over 2010-2022 and 10.03% over 2022:
Leading counties () (top-right quadrant)...are counties whose average annual real estate and rental and leasing employment growth rate surpassed the statewide average both long-term (4.24%) and near-term (10.03%).
Slipping counties () (top-left quadrant)...are counties whose long-term average annual real estate and rental and leasing employment growth rate exceeded the statewide average (4.24%), but whose near-term growth has "slipped" by falling below the Utah average (10.03%).
Gaining counties () (bottom-right quadrant)...are counties whose long-term average annual real estate and rental and leasing employment growth rate fell below the statewide average (4.24%), but whose near-term growth has "gained" by registering above the average (10.03%) statewide.
Lagging counties () (bottom-left quadrant)...are counties whose average annual real estate and rental and leasing employment growth rate fell under the statewide average both long-term (4.24%) and near-term (10.03%).
   
 
Summary of Utah's 29 County Totals
 
Short Term Average
 
 
Below
(10.03%)
Above
(10.03%)
 
Long
Term
Average
Above
(4.24%)
1
7
8
Below
(4.24%)
5
3
8
 
6
10
16
 
   
Leading Counties
2022 vs. 2010-2022 Averages
Leading Counties
white dot
Utah:
2010-2022 = 4.24%
2022 = 10.03%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the Utah counties classified as Leading. These counties surpassed Utah's average annual real estate and rental and leasing employment growth both long-term (2010-2022 = 4.24%) as well as near-term (2022 = 10.03%). Each is identified by its corresponding ranking based on it's average annual real estate and rental and leasing employment growth rate over 2010-2022.
Of Utah's 29 counties, 7 (24%) are classified within the Leading () category. Those counties ranked by their long-term average include:
Slipping Counties
2022 vs. 2010-2022 Averages
Slipping Counties
Utah:
2010-2022 = 4.24%
2022 = 10.03%
This figure depicts the distribution of the 1 Utah county classified as Slipping (top-left quadrant), in that their long-term average annual real estate and rental and leasing employment growth rate outpaced the average statewide (2010-2022 = 4.24%), while they trailed the statewide average near-term (2022 = 10.03%). Again, each county is identified by it's corresponding ranking based on its average annual real estate and rental and leasing employment growth rate over 2010-2022.
Only 1 (3%) of Utah's 29 counties are classified as Slipping (). Those counties ranked by their long-term average include:
Gaining Counties
2022 vs. 2010-2022 Averages
Gaining Counties
white dot
Utah:
2010-2022 = 4.24%
2022 = 10.03%
This figure shows the distribution of the 3 Utah counties classified as Gaining (bottom-right quadrant), in that their long-term average annual real estate and rental and leasing employment growth rate posted below the average statewide (2010-2022 = 4.24%), while they outpaced Utah's average near-term (2022 = 10.03%). Again, each county is identified by its corresponding ranking based on its average annual real estate and rental and leasing employment growth rate over 2010-2022.
Of Utah's 29 counties, only 10% (3) are featured as Gaining (). Those counties ranked by their long-term average include:
Lagging Counties
2022 vs. 2010-2022 Averages
Lagging Counties
white dot
Utah:
2010-2022 = 4.24%
2022 = 10.03%
This figure depicts the distributions of the 5 Utah counties classified as Lagging (bottom-left quadrant). These counties trailed the statewide average annual real estate and rental and leasing employment growth both long-term (2010-2022 = 4.24%) as well as near-term (2022 = 10.03%). Again, each county is identified by its corresponding ranking based on it's average annual real estate and rental and leasing employment growth rate over 2010-2022.
17% of Utah's counties, 5 of 29, are characterized here as Lagging (). Those counties ranked by their long-term average include:
   
 
Utah
Real Estate and Rental and Leasing Employment Growth
County vs. Statewide Average
 
2010-2022
 
2022
 
 
Leading Counties
 
7
4.52
 
10
10.75
1,937
 
8
4.46
 
14
10.24
15,141
 
3
6.05
 
1
14.67
774
 
2
7.40
 
5
11.45
584
 
4
5.53
 
13
10.27
28,814
 
1
7.53
 
3
12.00
2,445
 
5
5.48
 
11
10.65
10,778
Slipping Counties
 
6
4.92
 
15
10.02
2,580
Gaining Counties
 
14
2.80
 
8
10.97
536
 
16
0.13
 
2
12.01
737
 
15
2.06
 
9
10.76
1,050
Lagging Counties
 
13
2.82
 
19
9.56
676
 
11
3.57
 
18
9.73
63,032
 
9
4.02
 
20
9.07
601
 
10
3.70
 
21
8.08
6,192
 
12
3.30
 
17
9.85
8,468
Undefined/Suppressed Counties
 
U
U
 
22
1.50
270
 
U
U
 
12
10.29
6,398
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
7
11.32
177
 
U
U
 
S
S
S
 
U
U
 
6
11.34
324
 
U
U
 
4
11.85
793
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
16
9.85
1,283
 
U
U
 
S
S
S
 
 
 
 
 
 
 
 
 
4.24
 
10.03
154,826
 
 
 
 
 
 
 
 
 
3.63
 
10.26
11,832,200
November 2023
REAP_PI_CA1500N_511100_LSGL
 
   
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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