Mining the data field: 2020 trends for new home builds
Numbers don’t lie – they tell a story.
That’s why we’re mining our data field to uncover facts and figures based on Buildertrend customer activity. Why’s this important? As the No. 1 leading construction project management software, Buildertrend is in a unique position to provide a snapshot of what’s happening in construction on a wide-scale level. These insights then inform better decision making to futureproof companies for long-term success.
Today, we’re exploring 2020 new home build trends among Buildertrend customers. Did the number of newly built homes increase year over year? How much do these jobs cost? How are homeowners staying engaged? Step into the data mine* to get these questions answered – and more!
*Hard hats not required.
Number of new home builds increased by as much as 24% – and contract prices are growing, too
Not even a global pandemic could slow down new homebuilders. Jobs have increased approximately 30% since April, and the near-to-year-end totals show it.
Among Buildertrend users, there is a rise year over year in the number of new homes built across job types. Production/spec homes lead the pack at 24% growth, followed closely by multi-family at 23%, then semi-custom at 16%, modular at 9% and custom at 1%. With our software streamlining every process from bidding to closeout, it makes sense that builders are able to get more done in the same amount of time. They’ve got efficiency on their side.
More builds mean more profits, too – especially with the average contract price rising in the past year. As the demand grows for new homes, prices soar along with it. While custom new home builds saw the smallest growth in project count increase, this category commands the highest average price at $610,800. That’s followed by semi-custom at $430,100, multi-family at $374,000, production/spec at $354,400 and modular is last but still very profitable at $251,400.
What do these figures tell us? Even as 2020 challenged many industries, construction continues to successfully surge. That’s some good news for an otherwise odd year. As shelter in place measures remain into 2021, this trend may continue with more people looking for new spaces to safely spend every minute and moment.
More than 100 messages, comments and photos shared per build
Communication is key for successful new home builds – and check out how much of it happens within Buildertrend. Across project types, 156 photos are shared on average per job, followed by 26 messages and 11 comments.
Even better news? It all happens in one place. That means our customers aren’t wasting time sifting through notes, emails and texts to find job details. There is one system of truth – Buildertrend. All crew members – and even subs – can log in then get looped in on a day’s work. It’s as simple as that.
New homebuilders are doing more than saving time keeping all correspondence in one spot. They’re also seeing a boost to teamwork, improved collaboration, less delays and avoiding issues before they even arise. Because better communication means better construction. Period.
Homeowners log in to the Customer Portal 146 times on average per build
Do you wonder what homeowners expect from new homebuilders? We found out for you. According to our 2020 data report, today’s tech savvy consumers value digital interactions and ease of communication when working with residential construction businesses. In fact, on average, they sign in to Buildertrend’s Customer Portal tool 146 times to check on the progress of their project.
Think of it this way. That’s 146 times they were able to simply check an app instead of texting or calling their builder at dinner time.
Our Customer Portal delivers what homeowners want – then exceeds expectations. This feature gives a construction team’s clients unparalleled access to their jobs. From a unique login, clients can receive daily updates, make payments, choose selections, see the job schedule and communicate with their team. It’s everything they could want from a new homebuilder – and then some.
Are you a new homebuilder in need of software?
You can streamline and succeed with Buildertrend. Our construction job software acts as your ultimate new homebuilder app. Schedule a demo now to get started.
With a full suite of features, you’re able to more easily handle an increase of jobs, better track an influx of profits, centralize all team communication and keep your clients happy. All from the palm of your hand.
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