Zonda has acquired Builders Digital Experience (BDX) and its new construction listings site, NewHomeSource.com, transforming it into North America's largest provider of new construction home listings.
“By combining a new-home listings portal with Zonda’s deep dataset, we’ll be able to serve the unique needs of home shoppers better, ultimately driving more connections with buyers and awareness for home builders,” says Jeff Meyers, CEO of Zonda.
Zonda is a real estate data company that provides data-driven housing market solutions for the home building industry. It has exclusive database products that inform industry decisions, an industry-leading advisory practice, and a media division that includes BUILDER and publications such as Architect and the Journal of Light Construction.
It also operates the boutique listings site Livabl.com, which it launched in 2003 as Canada's largest new-home portal. There’s a niche for new-home listings, Meyers says, and Zonda is well-suited to step in because of its deep relationship with the building industry.
“We know that consumers shop for new homes and communities differently. With the help of Zonda’s data, consumers will soon be able to find, tour, and compare specific homes within a new-home community—a far more dynamic experience than seeing a model home listing and sample floor plans,” he says. “This is a game-changer for the industry and will not only create a more engaging platform for consumers but will yield incredibly rich data for builders to inform their business and pricing strategy.”
The acquisition will allow builders to gain exposure for listings, access new data about consumer buying habits and trends to grow the sales and marketing funnel, and ultimately help drive deeper engagement with buyers throughout the home shopping life cycle.
Founded in 2000, BDX is owned by 24 home builders in the United States, including Lennar, PulteGroup, KB Home, and Beazer Homes. There are more than 1,200 builders active on the platforms today. NewHomeSource.com is the largest portal for new construction listings, and major U.S. home builders use its Envision division to help buyers visualize their future homes and customize finishes based on their budget.
“This acquisition is a historic moment in the new-home industry that will drive more leads and awareness for builders and their homes,” says Kevin Krone, CEO of BDX. “Zonda, with its deep data and technical experience, is the ideal choice to take our vision to the next level. As builders race to keep up with consumer demand for new homes, we’re excited to have Zonda take our tech platform to the next level and ultimately fuel growth for the entire industry.”
The new-home market is having a moment as 2024 gets underway, with the share of new-home sales as part of the overall market sitting at near all-time highs. About 32% of sales in the fourth quarter were for newly built homes.
“In the face of aging and limited resale supply, the new-home market stands out,” says Zonda chief economist Ali Wolf. “Not only are builders able to offer consumers options today, but mortgage rate buydowns and other incentives help consumers financially and mentally.”