June was yet another good month for housing starts. Numbers rose 4.8% over the same time last year, pointing to a market for newly-constructed homes that continues to grind forward slowly and steadily. That comes to a seasonally adjusted pace of 1.19 million. Permits, which are a good indicator of things to come, also rose by 1.5% to 1.15 million.

The housing market nationwide continues to grow, albeit slow but steady.

While demand is still greater than available inventory, builders are reluctant to ramp up construction to pre-recession levels. According to marketwatch.com , Pantheon Macro Chief Economist Ian Shepherdson wrote in a research note, “Homebuilders’ behavior likely is a continuing echo of their experience during the crash. No one wants to be caught with excess inventory during a sudden downshift in demand. In this cycle, the pursuit of market share and volumes is less important than profitability and balance sheet resilience.”

Here in Utah, the economy is strong and demand is certainly outpacing supply. Many things seem to be going "right" in the Beehive State. We are here to support you - Utah's contractors - on your career path.