Builderonline.com recently interviewed market researcher Barb Nagle Statler on how today’s homebuyers are different than those of just two years ago, and how to reach them.
Today’s housing market is dominated by nondiscretionary homebuyers, unlike during the housing boom when most homebuyers were discretionary. During the boom, most homebuyers already had a house that met their needs and were buying move up homes or second homes. Today’s homebuyer must have a home, and the largest segment of them is first-time home buyers.
Demand in today’s housing market is smaller, and Statler says it will not rebound until the discretionary homebuyers return to the market.
You can watch a video of an interview with Statler, President of Marketscape Research: