Business View Magazine - Dec 2023

Despite the persistent demand for construction in the local Utah market, challenging factors like high interest rates create obstacles. The elevated mortgage payments resulting from these rates narrow the pool of people eligible for housing, affecting the lower end of the market. Consumer trends dictate which category of residence is gaining the most traction. Knowing the market for multi-family residences, the demand for townhouses, or the enduring appeal of single- family homes is crucial in strategy, planning, and execution. Caldwell predicts, “With the demand we see, there is going to be a need, and we’re going to have to come up with more ways to help people get into houses.” Adding to the complexity, a shortage of qualified trade workers further complicates matters, making it challenging for builders to keep up with the demand. However, the Utah ValleyHome Builders Association (UVHBA) stays steadfast in its mission to assist people in finding homes. Even in the face of these challenges, the current circumstances serve as a catalyst for innovation and collaboration among UVHBA members. The Utah Valley Home Builders Association participates in various government affairs committees,workingwith20 cities toget reasonable taxes and impact fees to keep housing more affordable. It works with the state’s Department of Housing and Urban Development (DUD) to address the housing shortage and manage the market. But also, to improve the quality of life for its members. The Builder Assistance Program helps build relationships between builders and homeowners, and they have a team of professionals working to help build and maintain affordable and accessible housing options. MEMBERSHIP HAS ITS BENEFITS The Utah Valley Home Builders Association advocates for its 850 members by engaging with city and state governments on zoning, taxes, and housing affordability issues. For instance, the UVHBA identified unwarranted fees related to building permits, which involved over 13,500 permits issued to 2,000 individuals and companies. The association recovered over $32 million from the affected parties. Despite the current inflationary climate, the Utah Valley Home Builders Association is enjoying a surge in membership. This growth is an unexpected bonus among the severe housing, stock, and trade worker shortages prevalent across the country. Unlock exclusive advantages by becoming a member of the Utah Valley’s most esteemed business community. Engage with influential business owners throughout the Utah Valley by participating in various social events and member meetings, fostering valuable connections. Elevate your professional standing and impress clients by acquiring a respected membership. Enjoy the benefits of an enhanced listing in the membership directory, contributing to the growth of profits and leads for your business. 23 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 12 UTAH VALLEY HOME BUI LDERS