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Back from brink, Utah’s Woodside Homes downsizes to fit new realities
Real estate » Back from the brink, Utah’s Woodside Homes downsizes to fit new realities.

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"I don’t know what is or isn’t a shift," he said. "I can only [run the company] the way the new board and I have decided to do it, which is we don’t have some hard targets that say we want to double in size in three years.

"We don’t have any sort of grandiose growth goal. We want to be opportunistic and grow the profitability as quickly as we can and still do a good job as a homebuilder."

At a glance

What trends mean to buyers, sellers

Low mortgage rates (3.37 percent for a 30-year loan, 2.65 percent for a 15-year) and job gains continue to boost the housing market, with sales of existing homes at the highest level in five years and new construction up double digits.

The median price for a home being resold is up more than 10 percent year-over-year in the state (to $183,000, and to $204,950 in Salt Lake City) and nationally (to $180,600).

Despite the rise in sales and the median, the levels of the former remain well below what’s consistent with a healthy market, and the latter are well off peaks of five years ago.

More sellers are putting homes on the market because confidence is growing they can get a good price, but inventories remain at 10-year lows as the housing market makes a slow comeback from its collapse.

Source: Realtors groups, homebuilder associations, Freddie Mac, Fannie Mae

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