Builders prefer traditional approaches for market research, according to a survey of Professional Builder readers.
A South Carolina builder notes that new and untested markets have rendered historical data useless. This concern may explain why the majority of respondents in our Market Research Methods Survey keep their pulse on the market by tapping their personal contacts with Realtors, appraisers, and the standby Multiple Listing Service (MLS).
Methodology and Respondent InformationThis survey was distributed between Sept. 2 and Sept. 12, 2014, to a random sample of Professional Builder’s print and digital readers. No incentive was offered. By closing date, a total of 242 eligible readers completed the survey. Respondent breakdown by discipline: 22.9 percent diversified builder/remodeler; 22.9 percent custom home builder; 15.3 percent production builder for move-up/move-down buyers; 13.1 percent architect/designer engaged in home building; 4.2 percent multifamily; 3.4 percent luxury production builder; 1.3 percent production builder for first-time buyers; 2.1 percent manufactured, modular, log home, or systems builder; and 14.3 percent other. Approximately 51.6 percent of respondents sold one to five homes in 2013, and 23.3 percent sold more than 50 homes.