Many publicly traded home builders have rolled out strategies to attract entry-level homebuyers over the past two years, while other builders are expanding their brands to court retiree buyers.
According to John Burns Real Estate Consulting's demographic research, the numbers of first-time and retiree buyers are rising, while the number of move-up buyers is dipping, referred to as a barbell of future home demand.
While projected entry-level and retirement demand is strong, those markets can still become oversupplied, which is why builders and developers build a variety of homes targeted at different consumer profiles within each segment.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
