Builder Participation, Submissions Continue to Climb
Unique home submissions increased by 47.3 percent in Q1 2017 vs. Q1 2016. Overall, unique home submissions increased by 46 percent over the last rolling 12-month period. The positive growth has been driven by the continued growth in the overall builder membership, as well as growth in the industry overall. As compared to Q1 '16, 18.8 percent more builders submitted for programs through Builder Partnerships in Q1 '17.
The conversion rate represents the percentage of rebate submissions that have occurred from the builder moving toward a Builder Partnerships manufacturer member. In the first quarter, 39.4 percent of the rebate submissions were a result of conversions by a builder member to a Builder Partnerships manufacturer member.
The rate increased by more than three points this quarter, driven by 159 product conversions over the past quarter, and 631 product conversions by builders over the past 12 months. The annualized value of the product conversions over the past 12 months is estimated to be worth $28.1 million in incremental sales to our manufacturer members.
Growth in Builders
The number of builders submitting through Builder Partnerships also continued to increase in Q1'17, as it has steadily done throughout the year. Improvements in the submitting process and conversions by builders to new manufacturers continue to pull new builders into the process each quarter. At the end of the first quarter, 829 builders — building more than 99,276 homes — are considered active members, with an overall network of more than 9,000 builders across North America.