After the entire economy virtually shut down, homebuilders are becoming optimistic about where the housing market is headed, according to real estate advising firm RCLCO Director Brad Hunter in an article at Forbes. RCLCO’s research found that master-planned communities experienced a surge in sales, some up as much as 80 percent from levels back in mid-April. Sales are still lower than what’s considered normal, but Hunter says that the upward trend is something to note.
“Not all communities are seeing the upswing, and there certainly could be another dip before the crisis is over, but builders and community developers are doggedly updating their strategies to capitalize on a possibly strong recovery in the next year or two,” explained Hunter.
Aside from the uptick in MPC sales, Hunter also attributed the optimism to other factors as well: land developers are emphasizing healthy and engaged communities; builder incentives have increased by over 50%; and housing is seen as an “engine for growth” for the economy.