Market data: The driving force of progress in new developments
While attending the 2016 National Council of Housing Market Analysts (NCHMA) Annual Meeting in Detroit last week, I was struck again by how important a data-driven market study is for planning a new development. A robust market study will be a vital tool to help you plan for your continued success, finance your projects, and continue to grow.
Many wonderful speakers presented at the conference the best way to obtain, use, and analyze data in a market study. Market data — which includes demographics, housing information, population trends, housing trends, and a variety of other valuable data — is also a vital tool to developing policy. Also discussed were the many revitalization and redevelopment projects taking place in the Motor City and how state governments, local governments, and the philanthropy community are collaborating in Detroit.
I would be glad to hear from you if you have comments or questions about the presentation topics and panelists. Please reach out to me at 419.842.6127 or via email.
In an industry this complex, Plante Moran Living Forward has the proven abilities to provide market studies that can help you develop your business strategy as you expand, move into new markets, or stay relevant in your community. Contact us today.
The National Council of Housing Market Analysts brings together market analysts, appraisers, developers, syndicators, investors, and other housing professionals for discussions on emerging issues and key topics for market analysis. NCHMA discussions also focus on best practices for market study methodologies. NCHMA is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. Learn more on the National Housing & Rehabilitation Association website.