Big Builder Panel CEOs (L to R): Scott Stowell, Standard Pacific Homes; Eric Lipar, LGI Homes; Doug Bauer, TRI Pointe Group; Frank Anton, Hanley Wood.
The 2015 Housing Leadership Summit came to a close yesterday in a flurry of statistics, roundtables, events, speakers, discussions, panels, and even a shark tank. Turnberry Isle, Miami served a gorgeous backdrop to three days of engaging sessions with the top builders in the country. Optimism for the industry is appropriately high for the coming year, and that energy could be felt in every session.
That optimism stems from the industry statistics shared by Metrostudy: a 50% increase in starts, and a 30% increase in prices since last year. The ingredients for a successful housing market are present: Americans are employed, getting married, and having babies. Entry-level homes from builders such as LGI Homes and D.R. Horton are filling a real need in today’s marketplace.
The feel-good moment of the week was the presentation of the 2015 Hearthstone BUILDER Humanitarian Award for the 16th consecutive year. The award honors builders who have demonstrated a lifelong commitment to making their communities a better place to work and live. This year’s award was presented to Dan Ryan, CEO and President of Dan Ryan Builders. Among the numerous and various ways Ryan gives back, he recently travelled with friends to the Dominican Republic to build bleachers for the soccer field at an orphanage – working with the children to teach them building skills. When asked about his need to give back, he recalled his father:
“My giving philosophy is an extension of my dad’s philosophy, which is: ‘Give back to those who are in need.’ It’s extremely important for me to give back.”
The Constellation Team is in awe of Dan Ryan and his philosophy. Congratulations to a worthy recipient.
The 2015 Housing Leadership Summit was a huge success, and we were thrilled to once again be the event’s digital sponsor, providing much-needed wifi and other technology goodies to the attendees.
As a sneak peek, below are some statistics on the much-discussed millennials market segment. The research below, from Metrostudy and The Demand Institute, should shed some light on how to approach this segment in your market.
Thank you to all attendees; we look forward to seeing you next year!
2015 Millennial Statistics (now the largest buyer segment!)
- 37% live in multigenerational households (parents move in with them)
- Believe housing is an excellent investment – only 16% believe they will not own a home
- 69% would consider a lease to own approach – financial limitation is the main reason they aren’t buying
- 71% want a home they can personalize
- 35% are likely to rent at least a portion of their home
- Parks, grocery stores, family friends, employment, schools need to be in close proximity (but a short drive is OK)
- Quality construction, low maintenance, and storage are important features
- Motivated by outdoor space, building equity, and living spaces
- Four basic needs: money, health, time, and technology
- The American Dream is still alive – owning a home is still a goal and an accomplishment
