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.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.