3 Essential Digital Tools to Assess Market Trends
In recent years, the consistency of the new home sales landscape has become muddied as an interesting pattern of “micro markets” has emerged. Rather than major shifts every six months or so, the market has begun to change significantly every 30—60 days. From volatile interest rates to the looming presence of inflation, it is clear that the days of predictable sales patterns are those of the past.
With so many factors at play, the ever-shifting nuances of the housing market can be difficult to interpret on your own. Fortunately, an arsenal of valuable digital tools exists at your fingertips. Read below to learn how to utilize some of these tools and stay ahead of the curve!
Google Trends
This free online tool allows you to analyze the popularity of search queries. Simply enter a word or phrase and filter that search by region, time range, category, and type of search. Google will then generate a graph that demonstrates how many times that word was searched within your parameters.
This data allows you to identify patterns in search behavior and gain a better understanding of your market’s prominence among the general population.
Zonda Home
This platform’s monthly blogs analyze the state of the national market and provide key insight into the housing industry. Users can browse articles covering various topics, geographic markets, and specific services. From new home market updates to market forecasts, this tool helps you stay up to date with in-depth information.
Website Activity
While external resources are a fantastic way to increase your market knowledge, one of your greatest tools exists right under your nose. Analyzing your own website activity is essential in understanding the state of the market and your place within it.
With the help of GA4, you can easily see the number of unique users that visit your site. This number — along with information provided by the other digital tools discussed in this article —will help you determine your position within the context of your market.
In today’s market, the only consistency we can count on is inconsistency. Your greatest defense against the challenge of change is information and adaptation. Stay sharp with these digital tools and prepare yourself for anything the market may throw at you.
Want even more industry insight? Tune in to our next segment of Builder Town Hall on December 1 where we will discuss how to sharpen your social media presence. In the meantime, be sure to join our Builder Town Hall Facebook Group and keep the conversation going!
Categorised in: Analytics, Builder Town Hall, Home Builder Marketing & Sales, Home Builder Websites
