The time is right to market to first time home buyer lists.
The economy is beginning to grow more rapidly. The recent jobs report was much stronger than expected. In June, the economy added 288,000 jobs and the unemployment rate dropped to 6.1%. Since the labor participation rate stayed steady, the unemployment rate decrease cannot be attributed to people leaving the workforce. Combined with the increase in private payroll growth, the economy is clearly on the upswing.
More jobs should translate into higher levels of consumer spending and increased interest in the housing market. But if the past is any indication, this will quickly lead to higher home prices and an increase in interest rates.
This is an important time to market to First Time Homebuyer lists. The combination of lower home prices and affordable interest rates together with an optimistic outlook for the economy make this an optimal time for marketing. But this window of opportunity will not last long. Once interest rates tick upwards it will take time for the mortgage market to readjust.
Don’t Forget About Millennials
We also know that millennials will become a force in the home buying marketplace. But not all millennials are alike. Some are interested in buying a home, some are not. Our first time home buyer lists can hone in on the top millennial first time home buyers. Our lists are way better than other company’s vanilla renter lists. Our first time home buyer marketing lists target age, income, marital status, life stage, modeled credit, POC and other elements that combine to create the best list of it’s kind!
This list is perfect prospect file for a solid lead generation program.
Mortgage marketers need to plan for success and get their programs to first time home buyers in the mail.
NOTE: This blog post is from 2014. The First Time Home Buyer List is still the top lead generation list for mortgage marketers looking to sell new mortgages. We know that this list works year-after-year to help mortgage marketers close new business.
