LAS VEGAS – (By Ralph Bivins, Editor of Realty News Report) – It was the biggest attendance in 10 years. Some 100,000 people descended into the National Association of Home Builders (NAHB) International Builders’ Show in Las Vegas last week.
Restaurants were packed. Traffic was tough. But bigger is always better, isn’t it?
Thousands of new ideas and products were unveiled at the International Builders Show. Once again, the NAHB show was ground zero for new trends.
The convention trend highlights:
What do buyers like? Laundry rooms are the No. 1 desire of home buyers, according to a NAHB survey of home buyers. Other leaders in top priories are energy efficient windows and appliances, patios, ceiling fans, garage storage and exterior lighting.
What do buyers hate? Elevators, wine cellars, cork flooring and plants on the roof are the most unwanted features, the NAHB survey said. Developers of master planned communities should note: Forty-seven percent of home buyers do not want to live in a golf course community.
Townhomes are HOT! One bright spot is townhome construction, which is expanding at a robust 24 percent annualized growth rate. Townhomes, with a small land footprint, are a more affordable housing product and appear to be a solution for Millennials and first-time buyers, said Danushka Nanayakkara, a NAHB economist.
Building smaller: The average sized home in the nation was 2,576 SF, the third year in a row for houses to shrink. The peak year was 2015 when the average new home hit 2,689 SF. Builders are reducing home size in order to meet demand in the low-end of the buying market, said the NAHB’s Rose Quint.
Falling Fast: The two-story soar is losing popularity. The 18-foot high foyer and the two-story family rooms are not hot items anymore. This trend fades as consumers seek higher energy efficiency.
