ORLANDO, Fla./ Jan. 9, 2018 (STLRealEstate.News) — Realtor.com® partnered with Builders Digital Experience (BDX) to deliver its unique housing economic insights to the builder community, releasing a special edition of its 2018 Housing Forecast today at The NAHB International Builders’ Show®.
Realtor.com® ‘s 2018 housing forecast highlights a growing economy and positive demographic trends, creating opportunities in the housing market despite the affordability challenges buyers will face from rising prices and mortgage rates.
Key takeaways for builders in 2018 include:
- Entry-level home construction a huge opportunity – Entry-level homes will continue to see price gains due to the larger number of buyers who can afford them and more limited homes available for sale in this price range.
- Millennials anticipated to gain market share in all home price segments – With the largest cohort of millennials expected to turn 30 in 2020, their homeownership market share is expected to increase. As they age into peak family forming years, their top housing priorities will shift from proximity to urban life to more space and quality schools.
- Southern markets predicted to lead in sales growth – Strong economies and healthy building levels will help drive Southern markets to beat the national average home sales growth. Builders who can adapt to regulatory hurdles in more challenging Western markets will find that prices still outperform national average growth in this region.
- The tax bill is a game changer – With the passing of the Tax Cuts and Jobs Act, the wealth and income effect of tax cuts will likely stimulate demand and increased production in the short term, but could lead to fewer sales and impact prices negatively over time in markets with higher prices and property taxes. Be wary of economic capacity constraints as inflation will kick in and the Fed will more aggressively increment interest rate increases.
“Our collaboration with BDX over the last eight years has enabled builders throughout the country to connect with millions of realtor.com® users,” said Tricia Smith, senior vice president of channel sales and operations at realtor.com®. “We are proud to deliver our housing insights to the builder community at a time when many opportunities exist for the new construction industry.”
“Our relationship with realtor.com® gives our builders a significant advantage as they are marketing their homes,” said Tim Costello, CEO of BDX. “From new home community listings to multiple advertising options, we are excited to give our clients the opportunity to connect to this qualified and active group of shoppers.”
A copy of the full realtor.com® 2018 Housing Forecast, is available at the BDX booth, West Hall W5071, from Jan. 9 – 11. For more housing insights, visit the realtor.com® research portal at www.realtor.com/research.
Realtor.com® is a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc. Realtor.com®, a trusted resource for home buyers, sellers and dreamers, offers the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by Move under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
About Builders Digital Experience
For more than 16 years, Builders Digital Experience (BDX) has been a leading provider of digital marketing and sales solutions for the home building industry. In addition to running the top new home listing site (NewHomeSource.com), and providing listings and advertising on leading real estate website realtor.com®, BDX offers website development, virtual reality solutions, interactive floor plans, photo realistic renderings, online design centers, and sales center kiosks. Together, these online and interactive resources help builders and manufacturers create a true digital experience for their buyers. BDX is owned by the industry and works with over 1000 clients. For more information, visit http://www.theBDX.com or stop by booth W5071 at the International Builders Show in Orlando.
SOURCE: news provided by realtor.com, distributed by PRNewswire.com, published on STL.NEWS by St. Louis Media, LLC (PS)
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