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Builders Use NAHB Economic Data to Gauge Market Demand
At a time when it is particularly difficult to read the housing marketplace and make confident predictions about where it is headed in the period ahead, NAHB members can access a wealth of economic materials that provide insights into the various factors that are expected to slowly put residential sales and construction activity on an upward path.
Information from economists at NAHB provides reliable forecasts on interest rates, unemployment and economic growth as well as demographic data that builders can use to gauge housing demand and prepare their business plans. Also, statistics on the economic impact of housing and the benefits of homeownership can be used to muster support for home building in the community and increase demand among prospective home buyers.
Among the economic resources available to NAHB members:
From HousingEconomics.com
- Tax Benefits of Homeownership. Provides concrete data about the long-term (over 12 years) tax benefits of homeownership that builders can use in marketing materials and when talking to potential home buyers.
- Spending Patterns of Home Buyers. A good resource for builders to use with local elected officials and in the media to help boost the message that homeownership benefits the community beyond the money that is spent just to build the structure.
- The Direct Impact of Home Building and Remodeling on the U.S. Economy. Provides numbers on the direct impact of home building on the U.S. economy and local community in terms of the jobs and tax revenues that are created, which builders can present to elected officials and the media.
- Characteristics of First-Time Home Buyers. Gives a detailed analysis of the first-time home buyers who typically comprise at least 40% of the market and currently are responsible for roughly half of new home sales, which can help builders target their messaging and sales tactics to the right demographic — especially in conjunction with the $8,000 first-time home buyer tax credit.
From www.nahb.org/taxation
From www.nahb.org/economics
- Construction Statistics and State and Local Data. Information on housing starts, building permits, employment and construction costs enables builders to adjust their short- and long-term plans to match market expectations and realities.
- Building Materials and Data Reports. With this information in hand, builders can keep current with trends in the price and supply of lumber and other critical building materials.
For more information on economic resources available from NAHB, e-mail Steve Melman, or call him at 800-368-5242 x8245.
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