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Tools to Identify Buyer Trends

November 14, 2019

Identifying buyer trends is key to creating a successful home building business. Because the last thing you want is to provide houses that aren’t meeting the needs of the current market. Why? In the end, they’ll be incredibly difficult to sell—and who wants that? And this subject goes even deeper than the needs of the current market. Understanding the needs of each generation is also incredibly important when it comes to floor plans that sell. For instance, Millennials and Boomers are likely looking for different features in their homes. So what are those features? And how do you find out what trends are popular? Stay on top of building homes that sell when you use these tools to identify and incorporate buyer trends!

The National Association of Home Builders’ current report on What Home Buyers Really Want is a great tool for identifying buyer trends. The report, available here, breaks down homebuyer wants based on features, community amenities and technology. It also takes a look at demographics including age and geographic location. 

The NAHB’s Eye On Housing page also provides articles and research on current trends. For example, articles on the page look at bathroom features for millennial homebuyers and private residential spending reports. The site is a great resource for finding information about trends and buyers. Not only is the page searchable, you can also sign up to subscribe to the newsletter to get email updates to help keep you in the loop. 

The National Association of Realtors also has tools and research to help identify homebuyer needs. For example, the association’s Home Buyer and Seller Generational Trends study outlines the generational differences of homebuyers and sellers. This study can help homebuilders identify the buying habits of their target populations and customize their offerings. 

Along with the most recent study mentioned above, the National Association of Realtors’ website also offers information on housing and economic statistics and other recent reports. It’s also easily searchable making it easy to find the information you need—or that you didn’t know you needed!

When you want a successful home building business, there is a lot of work that goes into it. However, it’s also important to work smarter as opposed to harder when building and selling beautiful homes. And when you use the tools mentioned above, you’ll be a few steps ahead of your competition!

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