Homebuilders Slash Construction, However Buying Conditions Have Never Been Riper
Homebuilders and developers are at the mercy of seismic forces – the broader economic and political landscape can swing the real estate market dramatically through factors such as regulation, tax policies, and international investment. Southern California is in the throes of a transition period, from a year-over-year decline in homebuilding activity from 2017-2018, and what now appears to be a re-set moment in which developers are taking stock of unsold properties and preparing for a more prosperous end of 2019.
According to the Orange County Register, supply is increasing in sweeping figures across Orange County, Los Angeles, and the Inland Empire. What does that mean for builders who have homes to sell? If the predicted foreign buyers and luxury clientele are on the wane, the recipe for success is in re-evaluating the current state of the buyer market and creating an inviting strategy to appeal to them.
Whether this is a momentary reality check on the longer term upswing of California real estate, or if developers are seeing the beginnings of a more dramatic slump, one thing is certain: the appetite for more affordable, family housing throughout the region is strong. Buyers are out there – they just need a clear, content-driven sense of what homebuilders have to offer.
If you are a homebuilder looking for ways to better understand your target market and send a clear message about the value you offer, ASTRALCOM can help with comprehensive content and digital strategy. Get in touch today.