Zillow’s 2019 New Construction Insights.
The New Construction Unicorn.
The Zillow New Construction Consumer Housing Trends Report 2019 explores data insights on buyers and how they search for, think about and buy new construction homes in America today.
New construction is a tale of two buyers: millennials (25-39), who are aging into the housing market, and baby boomers (55-75), who tend to be retired, repeat buyers. Younger buyers are more likely to be facing life-changing events that require uprooting to new homes, while older buyers take more time to search for or build homes that suit their particular tastes.
The pool of potential new construction buyers is staggering: 64% of all home shoppers have either set their sights exclusively on a newly built home or are open to buying one, but only 9% end up doing so.
The new construction unicorn – a home buyer who considers only new construction and has the money to back it up – is real, and they look a lot like the typical new construction buyer: mid-40’s, educated, partnered and employed with a six-figure income – the latter being the primary difference between new construction buyers and existing home buyers. Only 33% of existing home buyers are at that same income level.
Click HERE to download the brief.
To Sell, Buy or Invest contact Ed at (941) 921-2117 or EdBertha@DiscoverSuncoastHomes.com
Burns & Bertha – Changing Lives – Red Line Investors – © 2019
www.DiscoverSuncoastHomes.com
