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New Home Builders Report Discloses What Drives Consumer Preference
PHOENIX (Mar. 8, 2018) – The “2018 Southwest Residential Development Marketing Report,” developed and commissioned by leading marketing services agency LAVIDGE, reveals the most effective ways to reach and communicate with new home buyers across a range of demographics in an improving market. Among the key findings: 74.6% percent of millennial home buyers named social media as their most-preferred mode of communication, whereas adults within the 55+ age group favored direct mail pieces.
Additionally, respondents reacted strongly to specific words and phrases within ads with over 72% preferring terminology such as “affordable” and nearly half (46.2%) favoring “safe.” The results also include the most, and the least, effective phrases home builders might use, with expressions such as “manufactured” and “quick” proving a turn-off to home buyers within all age groups.
The LAVIDGE 2018 Southwest Residential Development Marketing Report is complimentary and available at: http://ow.ly/Mthm30iCPdz
WestGroup Research surveyed more than 400 adult consumers living in the Southwest United States, providing original insights for home builders about specific words and phrases as well as platform preference to market their products effectively.
The housing market is on the rise
“Our insights demonstrate that the uptick in the economy and consumer confidence in the housing market is largely due to advances in technology, an added emphasis on being environmentally friendly and being aware of societal changes,” said Tim Trull, managing director of strategy at LAVIDGE.
In 2018, housing sales remain on the rise. The National Association of Realtors (NAR) has forecast an increase of 3.7% year over year for 2018 with 5.67 million homes sold.
Due to a shortage of available homes, both existing inventory and planned new construction, the NAR further projects prices will rise 5.5% in 2018. An anticipated 950,000 new housing starts will represent a 9.4% jump year over year.
LAVIDGE is a Phoenix-based unified marketing services agency, offering advertising, public relations and digital marketing. Since 1982, LAVIDGE has specialized in discovering and communicating insights that engage, motivate and inspire – helping clients across a broad range of industry sectors reach their business goals. LAVIDGE’s clients range from healthcare and technology to personal care and food service and include Arizona State University, Banner Health, ISM Raceway, United Rentals and many more. Company offices are located at 2777 E. Camelback Road in Phoenix. For more information, visit the agency website at LAVIDGE.com, friend on Facebook or follow on Twitter or Instagram.