This week's installment of The Weekly includes a discussion with a Chicago-area single-family and townhome builder about the effects of the pandemic on his market and his homebuyers' demands, among other segments to help you build a better business!
Lexington Homes principal Jeff Benach says his company switched to virtual offerings quickly, which helped in the beginning of the pandemic, but by June, home shopping was back to normal.
While the pandemic has caused some changes in the rationale for buyers to move, it has mainly accelerated existing trends. According to Benach, townhome buyers have been slowly changing for years.
“What we have been seeing for the last three, four, or five years is a shift toward more families looking to be in townhomes versus single-family because they want new,” says Benach. “There was a time when you looked at a piece of property and you were deciding what to do with it, if you knew you were going to go to townhomes or a multifamily product, you didn’t care so much about the school districts. That’s not the case anymore.”
Watch the full segment below.
Editor's Note: The Weekly team will be taking a two-week break during the holiday season. We will return on January 7 with a fresh episode. Thanks for watching and happy holidays!