There is a paradigm shift at hand in the new construction home-buying experience. Since May of 2020, the new construction market has been on an absolute tear. While builders are doing their best to capitalize on the current market conditions, they’re also aware that it won’t last forever.
Forward-thinking builders looking toward future market conditions are recognizing the need to differentiate the buying experience, as the market levels out to something closer to “normal.” These builders understand that a buyer’s user experience can be directly tied to revenue growth. Many are turning to eCommerce and other digital tools, which give buyers the means to take more control of the home selection and buying process. And there’s research to back it up.
According to a 2020 Builder Funnel survey, more than half of those surveyed said using online tools and creating interactive content was a top priority for the next 12 months. That same survey found the priority for 69 percent of builders was converting leads to customers. Additionally, an America at Home Study found that 58 percent of millennials, 49 percent of Gen X, and 28 percent of baby boomers are comfortable touring and purchasing a home completely online.
One of the major hurdles that has prevented widespread adoption of an eCommerce strategy for home builders is the lack of the infrastructure to properly configure, price, and visualize homes across multiple geographies and communities.
Read more in my building industry insights report and see how builders who embrace eCommerce and digital selling are the new paradigm in the homebuilding business.
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