Spring Selling Season Shows More Strength Than Expected
As we move through the spring selling season and into the early summer months, we are beginning to see signs of positive momentum, though conditions remain mixed across markets. Spring selling activity has largely tracked in line with expectations, albeit at a slower-than-typical pace given ongoing economic uncertainty. Encouragingly, based on recent conversations with our builder clients across the country, traffic and buyer engagement are showing signs of improvement in several markets, particularly at lower price points when value is compelling.
For private builders, an attractive window remains to pursue both M&A and capital solutions. We continue to see sustained interest, competitive bidding dynamics, and favorable valuations from acquisitive buyers and capital providers focused on partnering with well-positioned operators. Demand remains highest for platforms with high-quality land positions in desirable markets, coupled with a strong leadership team that can effectively manage sales velocity and margins. While public homebuilders are currently trading at ~1.1x Book Value, recent builder sales processes we are leading suggest private builder valuations continue to command meaningful premiums in the current environment.
Recent Media Features
Margaret was recently featured in both The Wall Street Journal and on CNBC, where she provided perspective on the increasing presence of Japanese housing companies acquiring U.S. platforms, highlighting the strategic rationale behind sustained cross-border capital flows into the sector.
Whelan Advisory has advised on 10 successful transactions with Japanese buyers since 2020, in addition to numerous transactions with leading U.S. homebuilders. Most recently, in 2025, we closed transactions with both Lennar and D.R. Horton.
Margaret was also quoted in recent coverage by S&P Global, discussing the current housing market conditions and the impact of elevated mortgage rates and geopolitical volatility on consumer sentiment.
