Developers request housing market analyses after identifying a potential opportunity in a particular market. The developer needs information before moving a project to the initial design phase. A market analysis helps the developer to answer questions to refine the project concept further.
Some questions might include:
- Employment trends in the market area.
- Population growth rate.
- Configuration and size of units.
- Market absorption price.
- Percent of market demand captured.
- The community’s position on the potential development in the proposed location.