Boyd Martin President Utah Division DR Horton uvsummit

Boyd Martin President (Utah Division), DR Horton #uvsummit

UTAH HOUSING – THE GOOD • No Housing Bubble!

What is Different This Time? • No shadow backlog/inventory • Tighter lending standards • Less GM $ per home • ½ the work but feel busier

UTAH HOUSING – THE GOOD • No Housing Bubble! • Utah Economy • Interest Rates • Demand – Household formations

New Households Compared to New Housing Units For the first time in forty years the increase in households exceeds the increase in housing units. Source: Ivory-Boyer Construction Database, Kem C. Gardner Policy Institute

HOUSING – THE BAD • Affordability of Homes • Land - Availability • Material $ • Tight Lending Standards/Appraisals • It will slow down – It’s real estate!

Increase in Median Sales Price of Home in Wasatch Front (2017 dollars) Source: Wasatch Front Regional MLS.

Total Permits Issued for Single Family and Multifamily Units in Salt Lake County Source: Ivory-Boyer Construction Database, Kem Gardner Policy Institute.

HOUSING – THE UGLY • BYU Football • Labor – Availability/costs • City Impact Fees • Local policy decision makers • Density is not a four letter word!

UTAH HOUSING – GENERAL TRENDS • The big are getting bigger • Land $ is driving the density push • Public builders • Design Changing Faster Than Ever • WARNING – The $ are not what you think!

HOUSING – DESIGN TRENDS