Where your next new-construction client might be coming from

The pattern has direct implications for loan officers and brokers who serve relocating clients. New construction is increasingly functioning as an affordability valve for buyers priced out of their home markets and the data reveals exactly which metros those buyers are coming from.

Florida and Southern markets dominate cross-metro demand

The markets attracting the greatest proportion of distant shoppers are concentrated in the South. Lakeland-Winter Haven, Fla., led the nation, with 83.1% of new-construction listing views originating outside the metro.

Cape Coral-Fort Myers, Fla. (82.4%), Port St. Lucie, Fla. (80.9%), North Port-Bradenton-Sarasota, Fla. (80.5%), and Durham-Chapel Hill, N.C. (80.2%) rounded out the top five.

“New construction is increasingly a destination for buyers who are willing to look beyond their current metro in search of more attainable options and a different lifestyle,” said Joel Berner, senior economist at Realtor.com, Santa Clara, Calif.

“The markets drawing the most distant attention are largely in the South, where buyers can often find a newly built home at a price that compares favorably with more expensive nearby and coastal metros.”

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