Housing Demand Is Coming From All Sectors of the Economy

During the pandemic, for-sale home demand has not waned. In fact, it has accelerated, and not just for affordable or attainably priced housing but for homes priced across all sectors of the economy. The Groves in Whittier, a new master plan development from Brookfield Residential, is a prime example of the rush to purchase a home. The project has targeted a wide variety of price ranges, and it has seen strong sales across the board.

“There was already pent-up demand before planning began. This area of Southern California—and really most of the entire state—continues to endure a drastic housing shortage. The demand is coming from nearly all sectors of the economy,” Caitlyn LaiValenti, senior director of sales and marketing at Brookfield, tells GlobeSt.com. “So we are careful to segment new-home offerings—from entry-level townhomes for first-time buyers, to move-up families as well as empty nesters, or anyone who wishes to down size. Homes at The Groves are priced starting from the $400,000 range to over $900,000 and include two-story townhomes and two-story single-family homes.” In the first five months since the project has launched sales efforts, 165 homes have sold and another 80 are expected to close before the end of the year.

While there has been strong demand for homes, homebuyers are taking a new perspective on the market. They are looking for more flexible spaces that can accommodate remote work and remote learning policies. “Long before the pandemic we analyzed the market to design new homes appealing to a broad range of buyers. If anything, the pandemic has made this demand more acute, as first-time buyers yearn for their own space and families seek new homes to accommodate at-home work and distance learning, with the latest technology,” says LaiValenti.

In addition, Brookfield has had to adjust the home tour process to accommodate health and safety concerns and comply with regulations. “We have also innovated marketing approaches to ensure safety and flexibility for prospective buyers,” says LaiValenti. For example, Brookfield Residential’s myTime program allows people to schedule visits to model homes privately and on their own schedule, including off-hours. We are averaging 40 myTime visits per week, which has contributed to the healthy sales.   Lennar also offers self-guided tours for the homes it offers at The Groves.”

The retail portion of the project isn’t scheduled to open until late next year, but LaiValenti expects that will help to drive even more sales. “We expect these trend lines to continue with the opening of The Groves’ retail area,” she says. “This includes the Heritage Court market hall and shops created inside historic buildings, as well as new-construction retail, with Stater Bros Markets, EoS Fitness, Chipotle, In-N-Out Burger and Raising Cane’s, plus many more tenants to be named in coming months.”