To Wall Street and many home builders, their business is moving units, turning inventory, generating margins of return on invested capital. To a strong, deep, and seemingly enduring stream of buyers, those teeming transactions are something else: home, livability, well-being, a place to prosper.
New home buyers are ante-ing up in droves to solve a three-part life riddle right now. Pandemic, economic, social, and political turmoil continue to wreak unrelenting havoc on the zeitgeist, spread fear, and dim the horizon. The problem buyers are so keen to solve draws off three classic coordinates: Price. Product. Location. Maybe or maybe not in that order. New home builders, as it turns out, do price, product, and location like it’s nobody else’s business. It’s their stock and trade, and they’re doing it at capacity and velocity levels they’ve hardly even tried to achieve in 15 years.
The best news for builders selling their new home offerings as fast as they can produce them is that—in admirably quick response to the onset of pandemic shut-downs and safety protocols—they deftly got out of their own way in the “buyer’s journey’s” leg, from serious interest to the [mostly virtual] settlement table. Technology, user-experience, data-channeling, mortgage qualification and approval, and process re-engineering removed—in a flash—pain, time, and confusion from home buying, adding personalization and a meaningful sense of care to the experience. When they had to get better at selling, they did in a jiffy, and they’re