Ivory top Utah homebuilder

Ivory Homes was the Wasatch Front's top homebuilder in 2005, the 18th consecutive year the Salt Lake-based company held the No. 1 spot, according to a report by Construction Monitor.

For 2005, Ivory pulled 1,058 single-family home permits valued at $215.1 million.

Chris Gamvroulas, president of Ivory Development Co., said last year was the first time any Utah builder surpassed the 1,000 mark in building permits.

"We were very happy to break that record, but it wasn't a goal to break it," Gamvroulas said. "We are the only builder in any top-50 market to hold the top spot for more than 10 years. And we've done it for 18 years."

Richmond American Homes, owned by Denver-based M.D.C. Holdings Inc., trailed Ivory at 885 permits valued at $143 million. California-based Fieldstone Homes ranked No. 3 with 587 permits valued at $122.4 million.

The numbers from Construction Monitor, a publication that tracks home construction, were reported on its Web site Wednesday.

In 2005, owner-builders — people who act as their own general contractors — pulled 997 permits valued at $242.5 million.

Dave Mineer Sr., president of Construction Monitor, said home building in Utah likely will continue full-steam ahead in 2006.

"It is just incredible the number of homes being built," Mineer said. "It's not slowing down at all. We just see a lot of people moving up the I-15 corridor."

A state economic report released last week said more than 20,000 single-family home-building permits were issued in Utah in 2005, an all-time record, according to James Wood, director of the University of Utah's Bureau of Economic and Business Research.

"It's breathtaking," said Wood, who added that he questions how long Utah's housing boom will continue.

"Can we maintain this? It's more a sentiment than anything based in fact. We can't continue at this level. But we felt the same way in 2004, and 2005 was better than 2004."

Having said that, Wood points to the state's strong economic growth, which shows solid net in-migration numbers, a high amount of tourism, a state budget surplus and lower energy prices.

"I'm more optimistic now than I was six weeks ago," Wood said. "I think 2006 is going to be a real good year."

Ellis Ivory, chairman of the board of directors of Deseret News Publishing Co., founded Ivory Homes and sold it to his son, Clark, in 2000.

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E-mail: danderton@desnews.com