10 New Construction Insights on Consumer Trends

The more you know about your target buyer, the better you can attract them to your new construction homes and communities. Who’s buying new homes? How do they search? What influences their decision to choose new construction? Answer these questions, and your marketing efforts can more effectively raise awareness of your brand and drive traffic to your homes.

Here are 10 new construction insights on consumer trends.

1. Millennials (50 percent) and Gen Xers (54 percent) are most likely to consider purchasing a new construction home.

2. Today’s new construction homeowners earn $90,000 a year, are married (75 percent), have at least one child (46 percent) and a 25-minute commute.

3. Nearly half (48 percent) of all buyers consider new homes in their search.

4. The top reasons first-time buyers choose new construction are affordability (35 percent), location (31 percent) and features (29 percent).

5. The growth of bottom-tier new construction home values (7.3 percent) is outpacing top-tier home values (3.8 percent).

6. Many buyers (33 percent) are willing to pay a premium for new construction, particularly in markets with limited inventory.

7. Urban homes are worth more ($272,075) than suburban ones ($276,295).

8. Millennials want to own homes, and they make up 26 percent of new construction buyers.

9. Most buyers (85 percent) see a new construction listing for the first time on Zillow, which gets 171 million unique monthly visitors.

10. More than half of new construction buyers (56 percent) use mobile resources in their search.

There’s so much more to know about new construction buyers and how to effectively engage them. Download the full presentation, plus, find out how Promoted Communities can help you grow your business.