Data-Driven Decisions: Zillow’s Economic Dashboard for Home Builders
Builders often find themselves facing a myriad of challenges. From the constantly shifting business targets to the unpredictable financial swings, staying ahead in this industry is no small feat. Fortunately, there’s a game-changing solution that promises to empower builders with data-driven insights and make smart decisions.
The Ever-Moving Business Targets
One of the major challenges that home builders confront is the ever-moving nature of business targets. In an industry where market trends fluctuate rapidly, keeping up with the latest demands and trends can be a daunting task. This constant state of flux can lead to decisions that may not align with the current market, resulting in missed opportunities and financial setbacks.
Severe Financial Swings
Financial stability is crucial for home builders, yet the real estate market is known for its severe financial swings. Economic conditions can change dramatically in a short period, making it difficult for builders to plan their projects and allocate resources effectively. The financial rollercoaster can result in projects becoming unprofitable or even abandoned.
Access to relevant and timely data is essential for making informed decisions in the home building industry. However, many builders face the challenge of obtaining this data. Without access to accurate, up-to-date information, they are essentially navigating in the dark, making decisions based on intuition rather than hard facts.
The lack of accessible data leads to a broader problem – making informed decisions. Home builders need data-backed insights to understand the market’s current state and predict future trends. Without this crucial information, they might make decisions that are not in their best interest, affecting their bottom line and long-term success.
Now, let’s explore a powerful tool that can help builders not only understand the challenges but also navigate them successfully: Zillow’s Economic Dashboard.
Zillow’s Economic Dashboard: Your Key to Informed Decisions
To help you master your market and make smart decisions, we’ve developed a new economic dashboard full of Zillow’s new construction data. This interactive dashboard updates monthly, ensuring that you have access to the most up-to-date data. No more making decisions based on outdated information. With localized figures and simple filtering, it’s an inside edge to keep you informed on those big decisions. Here’s how this tool can empower builders.
Below, you can watch along as Zillow’s Qadra Evans and Ali Webster give us a first glimpse at how it works. In this video walk-through, they discuss current trends and show you how to run the numbers that’ll answer your burning questions.
Dive into the data by ZIP codes, states, and national overlays to view critical information, such as rent price trends, new renter burden, and new homeowner burden. You can even find out how many years it takes to save for a 10% down payment on the typical home. For builders, the construction data is a goldmine, tracking the number of units started and completed, broken down into granular counts like single-family units, buildings with 2-4 units, buildings with 5+ units, and more.
Some views display trends against the backdrop of pre-pandemic numbers. This allows you to see the impact of recent events on the housing market.
To make financially sound decisions, you need to know about input prices. Zillow’s dashboard offers insights into essential factors like lumber costs, skilled labor, and common labor, broken down by month and year. Finally, take a look at regional and national builder confidence.
Easy Data Driven Decision Are A Click Away
The challenges in the real estate market are substantial, but with the right strategies and resources, builders can continue to hit their business targets accurately and thrive in this dynamic industry. Zillow’s Economic Dashboard is not just a tool; it’s a game-changer that empowers builders with the insights they need to excel in the new construction market.