In January of this year the Wilmington – Cape Fear Home Builders Association announced a major new home market research initiative through a direct affiliation with MarketGraphics® Research Group, Inc. out of Brentwood, Tennessee, with the formation of MarketGraphics® – Coastal Carolinas, Inc.
We have now finalized our first 12 County Market Audit. Thus far we are currently tracking 854 active subdivisions and have reviewed the construction status on over 45,000 lots. At the same time we are tracking over 7,000 residential building permits that have been issued year to date. Each quarter a team of field auditors from MarketGraphics® – Coastal Carolinas, Inc. will be driving the streets of every platted new-home subdivision in the 12-county market inspecting every home site and compiling the most accurate market data in the industry.
Our next Market Audit will begin in November, and once complete it will add to the baseline data we just processed. The raw data will then be processed, analyzed, and compiled into a final report which will provide the basis for the market’s forecasting demands. Additional market factors such as over-building/under-building, permit trends, economic conditions, all indicators of the existing home market will also be captured and factored into the forecast.
Through our partnership with MarketGraphics® Research Group, Inc. we will be able to provide critical market intelligence to our MarketGraphics® – Coastal Carolinas, Inc. client base so they can minimize risk and maximize opportunities for their business by making accurate, informed decisions in the market where they operate. With the completion of this first “Market Audit” MarketGraphics® – Coastal Carolinas, Inc. has become the one-stop source of new home market research products in a 12-county market that encompasses Georgetown and Horry Counties in South Carolina and Hoke, Harnett, Cumberland, Brunswick, New Hanover, Pender, Onslow, Carteret, Craven, and Pitt Counties in North Carolina.
To learn more how you too can have this critical data at your fingertips call Cameron Moore, WCFHBA Executive Officer, today at (910) 799-2611.