JOME provides an artificial intelligence engine that explores the market, collates new home data, and builds a modern, searchable consumer experience.
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JOME, an Austin-based new home construction search portal, has secured $9.8 million in Series A funding, Inman has learned.
According to a Dec. 18 announcement, SID Venture Partners, U.Ventures and Forefront VP were led by Geek Ventures. The company said its plans for the funding include “expanding its regional footprint,” which already includes 16 cities including Austin, Denver, and Miami, and 90% of its total available new construction inventory. He said that
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The company’s solutions aim to solve the broader problem of fragmentation in new home marketing. This issue is primarily limited to what developers deem appropriate to attract drive-by traffic. New homes do not have access to local multiple listing services as often as existing inventory.
JOME provides an artificial intelligence engine that explores the market, collates new home data, and builds a modern, searchable consumer experience. We also work directly with developers who agree to provide site updates, plans, and asset listings.
“This gives buyers access to advanced filtering to show you the most relevant new construction properties, free consultations with certified real estate professionals, AI-powered contract reviews, and [summaries] We also have the ability to instantly book viewings minutes before you arrive on one user-friendly and seamless platform,” the release states.
The company, formerly known as NewHouseMate, says it has helped more than 100,000 users purchase homes totaling more than $250 million. We partner with notable emerging construction brands such as DR Horton, Lennar, and the nation’s largest PulteGroup.
Inventory has become one of the fundamental problems in the US housing market. Interest rates eventually calcified activity, but the lack of new buildings in the past decade proved to be a heavier anchor.
Although the number of available properties is up about 20% from last year, 2024 could be the weakest market since 1995, according to a recent Fannie Mae report. JOME’s founders believe that strengthening the marketing of new homes will help.
“We’re missing four.” [million] “With 7 million homes being built in the U.S., the construction and sale of new homes will help alleviate this crisis,” Dan Natkowski, co-founder and CEO of JOME, said in a statement. It has become an important lifeline for people to survive.” “However, most new homes – one-third of single-family homes on the market – aren’t even listed on major real estate listing platforms, but are instead hidden away in builders’ spreadsheets. ”
The decline in sales is expected to be tempered by a 2.2% increase in new home sales to 680,000 units. However, existing home sales are expected to decline 0.7% this year to 4.062 million units, Inman said.
“We founded JOME to eliminate these bottlenecks while providing customized support from certified real estate professionals specifically trained in the nuances of the new home market,” said Hunatkowski. he said. “The process of buying a new home should be filled with joy, and that encompasses the intention behind our new brand JOME: to enjoy the joy of buying a new home.”
JOME’s funding is in line with the recent VC trend of making existing revenue the focus of funding. The company says its revenue has increased more than 300 percent since 2023.
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