Taylor Morrison Sets New Record by Earning America's Most Trusted® Home Builder for Ninth Consecutive Year
- None.
- Consumer trust in the housing industry is trending down due to factors like interest rates and housing supply.
Understanding consumer trust dynamics is crucial for businesses, especially in the homebuilding industry where the customer's commitment involves a significant financial and emotional investment. Taylor Morrison's consistent achievement as America's Most Trusted® Home Builder reveals a strategic advantage in a market where trust is a key differentiator. Their Net Trust Index score of 109.9, outperforming the industry average, indicates a strong brand perception that can lead to higher customer retention rates, reduced marketing costs and potentially greater pricing power. The trust factor is particularly important in the current economic climate, where rising mortgage rates and a limited housing supply have increased customer anxiety. Taylor Morrison's focus on customer relationships and empathy could drive sales even in a contracting market, as trust becomes a more weighted factor in purchase decisions.
For investors, Taylor Morrison's repeated recognition has tangible financial implications. Trust is an intangible asset that can translate into real value. A high trust index score can be a leading indicator of customer loyalty and repeat business, which are critical drivers of long-term revenue stability. The company's ability to maintain its trusted status despite broader industry challenges suggests operational resilience. This resilience could be reflected in the company's financial performance, potentially leading to stable or growing market share. Additionally, the success of their resort-lifestyle brand, Esplanade, in the Active Adult Builder category, points to effective brand segmentation and market penetration in a growing niche, which could further diversify revenue streams and reduce risk.
Taylor Morrison's recognition affects not just the company but also the broader real estate market. Trust in a homebuilder can influence consumer behavior, impacting demand for new homes and the pace of real estate development. In regions where Taylor Morrison operates, their high trust scores could lead to increased demand for their properties, potentially driving up local real estate values. For real estate investors, the company's sustained trust could signal a lower risk profile for investments in developments associated with Taylor Morrison, especially in the active adult segment where their Esplanade brand is gaining traction. However, investors should also consider macroeconomic factors such as interest rates and housing supply that can overshadow even the most reputable builders' market performance.
National homebuilder leads industry in trust among home shoppers since 2016
SCOTTSDALE, Ariz., Jan. 4, 2024 /PRNewswire/ -- National homebuilder and land developer Taylor Morrison (NYSE: TMHC) has once again earned the coveted America's Most Trusted® Home Builder title by Lifestory Research for the ninth consecutive year. Taylor Morrison's fast-growing resort-lifestyle brand, Esplanade, also climbed to the second spot in the America's Most Trusted® Active Adult Builder category.
In the 12th year of the study, national independent market research firm Lifestory Research surveyed more than 58,000 home shoppers to measure their perceptions and experiences with homebuilders. Despite the 2024 findings revealing consumer trust is trending down following shifts to interest rates, affordability and housing supply, Taylor Morrison continues to achieve the industry's highest scores each year by keeping trust rooted in its business strategy and customers top of mind.
"Today's home-shoppers are craving reassurance, and rightfully so following an era of rising mortgage rates and limited housing supply, but having a deep understanding of your customers, building meaningful relationships from the start, and leading with empathy can withstand any market condition," said Taylor Morrison Chairman and CEO Sheryl Palmer. "These principles are core to who we are at Taylor Morrison, and that is proven in our nine-year streak of being named America's Most Trusted® Home Builder."
The nation's top 20 homebuilders were ranked based on annual closings according to their trust score. Taylor Morrison achieved a Net Trust Index score of 109.9 and Esplanade by Taylor Morrison earned a trust index score of 106.4. For study methodology and the full list of rankings, visit www.lifestoryresearch.com/americas-most-trusted.
"In a time where consumer skepticism of big brands is on the rise across all industries and sectors, this accolade means even more," said Taylor Morrison Chief Marketing Officer Stephanie McCarty. "Fostering genuine connections with our customers at every stage of their homebuying journey, while building enduring brand loyalty, remains one of our greatest opportunities to maintaining this industry-leading level of trust."
"I extend my congratulations to Taylor Morrison on this recognition for an impressive nine consecutive years, a testament to their team's exceptional work and unwavering commitment to customers," said Lifestory Research President and Chief Research Officer Eric Snider. "Trust builds business and the thousands of consumers who participate in our study continue to trust Taylor Morrison when shopping for a new home."
About Taylor Morrison
Headquartered in
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT: Erin Kristick
(480) 840-8108
ekristick@taylormorrison.com
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