By John McManus | Builder
Consumer digital search behavior’s sharp reversal portends a whole new 2020 for home building businesses. Here’s ways you can adjust now.
A sharp change in new home searches–reflected in the latest real-time search data captured by BDX’s New Home Source— flashes a big red flag that home builders can either ignore or use as a signal to pivot on their 2020 planning and execution.
Consumer online housing search behavior–to a material extent–shows a pervasive 180-degree turn in their sentiment and confidence about conditions that had been bouying market momentum through the end of February and into the first week of March.
The breakneck speed of the about-face in consumer confidence–thanks to economic shocks concurrent to the spread of COVID-19’s public health menace–will catch many builders in the middle of initial hopes and assertions that home buying behavior would continue at a strong clip, fueled by Fed interest rate reductions.
