Not since the great recession of 2008 has there been a more critical time for home builders and their peripheral partners to access real-time data.
At BDX’s INsights conference, we were fortunate to have Bryan Glasshagel, Senior Vice President at Zonda, present the most up-to-date data on the housing market. He covered various economic topics, market shifts, inventory trends, and buyer considerations.
A few key points addressed:
- How will the economic conditions impact consumer demand? Job postings are up 55%, wage growth is up 5.7%, and unemployment is down to 3.5%. These are all buying signals for the building market, except inflation is at its highest level since the 80's – 8.5%.
- While there is still a robust new home purchase desire for consumers, affordability is now the key issue with rising interest rates.
- It is no longer a seller's market – upwards of 50% of listings have had price drops, MLS is approaching 2019 levels, and homebuyers are exercising caution.
Watch his presentation in full to understand how you’ll need to adjust your sales and marketing strategy for today and the future.
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