Friday, June 12, 2015

June column for Builder & Developer magazine now online

My column for the June 2015 issue of Builder and Developer magazine is now posted online.

For this issue, entitled "Marketing for the Millennial Homebuyer," I covered what appears to be a rebound in the market for first-time buyers, most of whom are Millennials

This is also something I will be covering at a session on Thursday afternoon at this year's PCBC in San Diego featuring panelists Tim Costello (President, Builder Homesite), Mike Taylor (Division President/Inland Empire for Pardee Homes) and Mike Surges (National Strategic Alliance Manager, iMortgage).

An excerpt:

A few months ago, I wrote about the partial absence of the first-time home buyer and what impact that is having on the housing market.  In order to delve into this subject in more detail, I will also be moderating a panel of experts for a session entitled “Where are the First-Time Home Buyers?” on Thursday afternoon at this year’s PCBC in San Diego.

Recently, however, the Web site Zillow made a bold prediction that Milliennial home buyers will outpace other demographic groups as soon as this year based on income, growth in home values and the level of entry-level homes for sale.  The best large cities based on this ranking include Atlanta, Las Vegas, Chicago, Hartford and Pittsburgh.

Zillow’s 2015 predictions are based on a series of factors, including housing data that shows rents continuing to rise sharply while home prices level off, more inventory, and millennials finally starting to get married and have children after delaying those choices during the recession.

In a similar analysis, The Demand Institute – a think tank focusing on consumer demand co-sponsored by The Conference Board and Nielsen – predicts 21.6 million households headed by millennials by 2018, for a gain of 8.3 million since 2013...
To read the entire column, click here.

To read the entire June 2015 issue in digital format, click here.

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