We are currently working with a client creating a New Homes Development Demand Study to discover and recommend the best value-increasing combination of residential development, new home types, and amenities that will lead the development to its most positive future. The study has a fourfold purpose:
- Discover demographics demand
- Reveal existing and anticipated competition
- Forecast market share and absorption
- Substantiate value to focus market area
Through extensive research, we were able to project a five-year demographics analysis as a basis for anticipating demand over the seven-year forecast for the client’s new homes market area, including a separate and detailed review of current residents, anticipated quantitative and qualitative growth, age migration and other existing household trends, and additional notable demand characteristics. Historic and current growth have both been studied to come up with estimated 2018 demographics numbers.
We are excited to see how the local economy in this market area might be ripe for a new development, and even more excited to share the client and their plans with all of you. Stay tuned for more information on this client - together, we’re moving the market!
By Denise Kruse