MARKET ANALYSIS AND DEVELOPMENT DYNAMICS Sample Clauses

MARKET ANALYSIS AND DEVELOPMENT DYNAMICS. Home values and sale prices are market demand indicators for ownership housing. Rental rates and vacancy levels are market demand indicators for rental housing. Stantec will analyze these data and others relevant to understanding the existing demand for housing across the spectrum of housing types. Another key indicator of market demand is the development activity that is already occurring. Through Costar information, building permit data, rental licensing information (if available), and information from City staff, we will collect information relevant to the development of rental housing and housing subdivisions over the previous decade in the Minot area—with particular attention to market rate, workforce, senior, family, and special needs housing that has been produced or preserved. We will deepen our understanding of the housing market and development dynamics through structured research interviews with real estate professionals, housing developers, and builders in Minot and another part of North Dakota. Candid conversations with builders and developers provide important nuances in understanding why certain development types are being built and others are not, and what it would take to attract types of development that are not being built currently. They directly inform housing strategies that relate to attracting development types that are not being built. And they can yield the information needed to estimate the public financial participation that will be needed to achieve certain specific development outcomes.
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