Unprecedented times

As we re-engage from the backdrops of living under COVID-19 restrictions, it doesn't take long to realize changes yet to be worked through in our economy.

No matter your need, nearly everything we desire is in limited supply and coupled with rising costs. As you ponder where we have come from, it strikes a chord of appreciation for the grateful heart as we consider how blessed we have been in the abundance of our modern day.

Through our collective efforts, we hope that we will be "back to normal" soon. Until then, it is essential to note that our businesses are struggling to provide the level of service we appreciate or have come to expect.

The home building industry isn't left out of the fray; contractors face new obstacles every day. Whether it be rising costs, shortage of supply, or low labor, they all add to delays and inflating prices.

It is through effective communication between consumers and service providers where balance is found and relationships built. If you are in the market to buy a new home, understand the difficulties placed on new construction as our builders do everything in their power to meet the seemingly impossible task of satisfying the market's demand.

A tool used that enables the sale of new construction is an escalation clause. This provision in a purchase contract enables a buyer and the builder to agree on a price today, knowing what could trigger unexpected increases in costs during construction. These costs then are added to the purchase price on terms described in the clause. Using tools such as this, we can jointly work through the extraordinary business climate we are experiencing today.

Each member of the Salt Lake Home Builders Association is in business long-term. They are here through the ups and downs, thick and thin. Our ambition is to find a way to continue providing housing that then becomes your home. We thank you as consumers of housing for working with us to accomplish mutual ambitions of homeownership within our communities.