Once the country reopens, pent-up demand may ignite the next “Great American Move,” according to John Burns Real Estate Consulting. After the entire nation shared in such a traumatic event, people will be looking for a change in housing due to safety, employment, life changes, or other reasons for relocation. The real estate consulting firm is already seeing builder clients report an increase in buyer demand in states that have reopened. Opportunities will arise in new homes, apartments, single-family rentals, commercial real estate, and investing. See how if any of these new prospects could help your business find a new angle.
As states, cities, and counties around the country slowly reopen, we predict The Great American Move. For safety reasons, financial prospects, life change improvements, personal comfort, and employment, we expect a surge in household and business relocations over the next few months that will provide new, strategic opportunities for the real estate market.
New Home Opportunities
Home builders should capture the pent-up demand from apartment dwellers, in-migrants (we expect more home buyers will migrate from cities to suburbs), families wanting more space, and residents relocating to new jobs. Our builder clients are reporting increasing new home demand in states that have started to reopen and rising home sales in exurban areas that appeal to commuters. Texas home builders are surprised at the demand, and some are even concerned they will run out of lots. We heard from several builders after the last issue of The Light that the first-time and family buyer profiles we identified were key components of their sales in recent weeks.