A Housing Boom Inside A Pandemic?



In today’s Coffee…


*Implications of the Boom

*357 words, total reading time about 2minutes


Big demand, houses selling for more than asking price, as the pandemic persists, we are seeing segments of the markets advance rapidly. Low interest rates have helped but the reality of the “K” recovery economy could not be more prevalent.

And,

are we becoming a bit more of a bunker mentality society; traveling less, eating out less, more work at home and looking for safe havens for our family. Construction Put in Place is trending up. This indicator tells the story beyond the cost of the lot. Month over month increases in this index date back to April showing strength in the market.

Is there a movement to the burbs or to the country/vacation spots? Anecdotally, we hear of people moving outside the city and seeking safer ground with higher taxes, crowding and other factors driving people away from the city.

Limited inventory supply is fueling the new construction market as well. No surprise CI work has held up during the pandemic. Manufacturers and dealers alike are seeing increases in sales and revenue after a speed bump in later first quarter and early second quarter 2020.

School closings, theater closings, office shutdowns, restaurant cutbacks, travel restrictions and the list goes on. Each of these are motivating home buyers to upgrade and more up the ladder. Our lives and lifestyles are being profoundly changed.

So how do you cash in on this trend? Personal conversations with your builders learning their near and longer-term forecast (builds) is really an important thing to do. How can you be a better partner? How can you make the builder’s execution better? The tech story has never played better than in the current environment. The very reasons people are upgrading are in your wheelhouse. Safety, clean air, better networks, higher bandwidth usage, video around the house, and more. Are you leveraging this opportunity?

As upscale builders expand their projects are you in position to expand with them? Will builders outrun their existing integrator’s capacity? Will this open more doors for you, or put you at greater risk?

We encourage you to be smart in this environment of opportunity. What a great time to be a real partner with your builders, architects and designers.

In a great time of uncertainty and gloom for many, the sun is shining on you, make hay.

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