Real estate looks for answers to Americans’ growing desire for flexible lifestyles.
It’s no secret that the housing market is cooling down all over the country. Real estate journalists, property developers, and home salespeople can cite a number of variables that have led to the recent sink in property values – chief among them are oversupply. In places as scattered as New York, Miami, California, and Texas, buyers are becoming increasingly wary and scarce. Bloomberg Businessweek describes many of the factors contributing to 2018’s great housing slowdown – from immigration policy to a general lack of affordability. The Wall Street Journal describes how the slowdown is panning out, even in some of the most rapidly growing, economically sound counties in the US.
What do high prices, increasing mortgages and interest hikes mean for builders? The sales slowdown is certainly taking a toll on builders’ confidence, but there is still hope that demand will level out in 2019. CNBC reports a decline in the National Association of Home Builders’ Market Index that indicates a strong change of sentiment, though not a total collapse.
So what can builders do to restore buyers’ interest? If there’s any way to supersede some of the larger trends, it’s to meet buyers where they’re hungriest right now – that is, help fulfill the increasingly popular lifestyle of a home that adapts to its occupants. As the New York Times puts it, who needs a three-car garage when homeowners could flex their environments to suit a work-live set-up, long term guests, aging parents or AirBnB vacationers? To remain differentiated in an increasingly saturated market, home builders can seek competitive differentiators within floorplans, modular space usage and a strong content marketing plan that shines a spotlight on multi-functional living spaces.
Are you looking to tap into trends around the New American Dream Home? ASTRALCOM can help with comprehensive digital marketing services. Get in touch today to see how we can help you connect with more homebuyers across more channels, more consistently.