KAYSVILLE — A Utah builder who says the housing market is on the road to recovery is backing that claim up with plans to build 300 homes in Davis County.
Brad Wilson, president of Destination Homes, plans to develop about 80 acres of farmland owned by the Hill family into a new neighborhood on the west side of Kaysville. The homes in Hill Farms will be priced between $200,000 and $600,000, comparable to Daybreak in South Jordan.
Destination Homes said they already have hundreds of people on the waiting list for the Hill Farms development. Wilson said the architecture of the homes will be based on the existing home of the Hill family.
Wilson said the development will be possible because of an improved housing market. He expects the market to continue improving, too.
"The housing market has been terrific for the last year or so, and continues to get stronger," Wilson said. "We're very excited. The housing market does go in cycles. We're just sort of catching the wave of this next cycle right now."
The U.S. Census Bureau reported a 7 percent increase in housing starts nationwide in April — the fastest growth rate since the 2008 recession.
"We've got a ways to go still, and I think this is really the beginning of a housing recovery," Wilson said.
Doris Giede-Stevenson, chair of Weber State University's economics department, offers a more conservative perspective. She points out that housing prices are still 30 percent below the peak nationwide, and the current demand and rising prices may be reminiscent of the housing bubble that led into the recession.
She believes the increased building, buying and selling are positive signs.
"I think that you want to differentiate who's buying the homes," Giede-Stevenson said. "And it seems that mortgage applications are up, and so traditional homebuyers are back in the market."