Page 55 - Green Builder May-June 2020 Issue

report from Rise Home Design, which finds
no decrease, and in some cases, an increase
in foot traffic—a sign that people are doing
more research and being more careful about
their investments.

WHAT DO CONSUMERS WANT?
In a recent builder survey conducted by
Green Builder Media, nearly one-third of
respondents noted that consumer interests,
expectations and requirements are chang-
ing, specifically in areas such as Health and
Wellness, Resiliency and Self-Sufficiency,
and Connected Living.
These evolving consumer expectations
will place new demands on building pro-
fessionals and manufacturers, spurring the
development of innovative products, sys-
tems and technologies that help us adapt to Waiting patiently. Only 25 percent of Realtors
the new realities of a post-pandemic world. and other home sellers say fewer people are CREDIT: MADHOURSE/ISTOCK
Good indoor air quality will become a coming to see homes because of the pandemic.
necessity for buyers, driving demand for
proactive indoor air quality systems with
monitors and sensors that tie into ventila- The Path of renters are leaving their apartments and
tion systems to ensure fresh air exchange purchasing new homes.
and purification. Many of those soon-to-be ex-renters are
Connected living solutions will proliferate Ahead millennials who are being drawn to the market
to match the surge in home healthcare and by low mortgage rates, according to Nation-
telemedicine, and new smart home technolo- BY SARA GUTTERMAN wide Senior Economist Ben Ayers.
gies will be developed in response to the “[This] should drive a rebound in hous-
evolution in how and where we work. S THE ECONOMY OPENS UP, ques- ing activity later this year and into 2021,”
Look for an upsurge in voice-enabled and tions and concerns abound how he notes. “With the inventory for existing
touchless products, like faucets, bidets, locks, the Coronavirus pandemic will homes expected to remain tight, there will
light switches, TVs, and appliances, as well A impact the built environment, and be the opportunity for strong gains in new
as anti-microbial surfaces and materials to how the industry will respond. home sales again.”
keep our spaces germ-free. In the first several weeks of the pandemic, Based on the rebound potential, builders
We can also expect increased digitization general consumer sentiment was negative seem to be in the mood for moderated san-
of certain building industry services, such as and fearful, as people were worried about guinity. In a recent builder survey conducted
virtual inspections, appraisals and permit- getting sick, stopping the spread, and los- by Green Builder Media, approximately 75
ting, 3D home showings, and digital nota- ing their jobs and health insurance. Over the percent of respondents reported that they
rization. Coronavirus has also made shop- next few weeks, however, sentiment became believe their businesses will be impacted in
pers less picky: The National Association much more positive as people focused on the short term but fine in the long term. Five
of Realtors says that 24 percent of buyers creative ways to relieve stress. Hope was percent reported that they weren’t experi-
are now willing to purchase a home sight visibly replacing fear. encing any slowdown at all.
unseen (that number increases to 30 percent What does this mean for the construction Interestingly, only 37 percent of builders
for millennials). GB industry? Plenty of positives, if builders push reported that their home buyers are putting
the right consumer buttons. orders and purchases on hold.
RESOURCES: According to Devyn Bachman, manager of As we prepare to reopen the economy, the
Green Builder Media: “Coronavirus and research John Burns Real Estate Consulting, time is perfect to take the opportunity to
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the Housing Industry” housing sales are down roughly 65 percent reimagine the way that we live in our homes
Homes.com: “How Homebuyers and but positive news is coming out of the new and buildings. The question is whether we will
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Sellers are Feeling With the Current Real home market, particularly for builders who are have the ingenuity and political will to reset
Estate Market.” targeting the first time and entry level buy- the way that we design, construct and inter-
Rise Home Design: “Homeowner ers. She points out that a growing number act with the built environment.
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Outlook Amid the COVID-19 Outbreak.”
www.greenbuildermedia.com May/June 2020 GREEN BUILDER 49