D.R. Horton is one of the biggest builders in the country and is also one of the only big builders in the country that is not only focusing on homes for first-time buyers, but finding great success with those homes.
As MarketWatch reports, sales of their first-time buyer homes are surging, but it isn’t just first-time buyers that are going all Hungry Hungry Hippos on them. D.R. Horton’s line of “Express” homes accounted for 28 percent of the company’s closings and 20 percent of its revenue in the most recent quarter, according to the company. And, despite already increasing the number of markets where these homes are available, D.R. Horton still believes there is a lot of room to grow.
While Millennials make up a large portion of the market purchasing Express Homes (and will continue to do so as more first-time buyers flood the market), Baby Boomers are also finding quite a bit to like about these homes. Since the existing housing stock may not be adequate to serve the needs of Baby Boomers with a desire for aging in place amenities, making new homes targeted at first-time buyers a good choice.