Higher interest rates have led millions of existing homeowners with mortgages under 4% to postpone plans to list their homes for sale, and for many prospective buyers, that supply vacuum has left newly built homes as the only game in town. That is the backdrop behind the strengthening of interest for new homes.
According to the latest Housing Trends Report, between the final quarter of 2022 and the second quarter of 2023, the share of buyers looking to buy new construction rose from 20% to 25%. In contrast, the share interested in existing homes dropped from 39% to 36%, while the share with no particular preference fell from 41% to 39%.
Interest for new homes is widespread. Between the final quarter of 2022 and the second of 2023, all regions saw the share of buyers interested in new homes increase. In the West in particular, the share jumped from 21% to 32%, followed by the Northeast (20% to 24%), the South (20% to 23%), and the Midwest (15% to 18%). Read full article on EyeOnHousing.org.
Now more than ever, home-builders need to maximize their marketing dollars. Without a doubt, home-builders invest a lot of time, energy and resources to get potential home buyers to their new home communities. It can be difficult to know where to spend your advertising dollars for the most effective return. When advertising you need to cover all the bases with the new social media marketing and traditional marketing but you can add the winning edge to your marketing efforts with quality directional signs from Accurate Sign Placement. You have many buyers out looking for new homes but with traditional GPS and maps the new street names may not be available. Accurate Sign Placement will produce quality directional signs to direct the home buyers directly to your sales center.
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