Builders to Promote Home Technology Features to Boost Sales
Now that builders see a possible end to the depressed conditions in the housing market, they are looking for ways to differentiate their offerings. Many have seized on home technology as a way to resonate with home buyers. The 10th Annual State of the Builder Technology Market Study from the Consumer Electronics Association (CEA) shows how important this trend has become.
Steve Koenig, CEA director of industry analysis, says that both entertainment and automation solutions are generating demand for more technology in today’s homes. To meet this demand, builders are incorporating the following features in newly-developed homes:
- Structured wiring: 63%
- Energy management such as automated lighting controls: 7%
- Other home automation: 10%
- Multi-room audio: 23%
- Home theater: 29%
These increases are all about the continued digitization of today’s consumers. Whether it’s entertainment-focused or directed to energy saving, Koenig notes the CEA has long believed that home technology “would make a positive contribution to the inevitable housing market recovery.”
This study also revealed that builders are expanding their services to existing homes while the new home market recovers. For up to 20% of builders, the remodeling market is contributing more business than new-builds. Current homeowners may be as likely as buyers of new homes to order home theater renovations or the installation of energy management systems.
Builders should promote their expertise in both areas and emphasize consumer interest in all things digital to increase their business.[Source: Consumer Demand for Home Technology Grows] CE.org. 24 May 2012. Web. 13 Jun. 2012]