The Rising Value of Home Technologies in MDUs
Builders know more than anyone that people are moving away from their houses, cars and white picket fences in the suburbs into major metropolitan cities. But moving away from a house -- whether it is permanently or only for vacations -- doesn't mean that they want to leave the luxuries of a single-family home. As more people move into luxury high-rises, condominiums and apartments, they want to bring their lifestyle with them.
Consumers are looking for an amenity-rich, hassle-free lifestyle, which includes custom home technologies -- making the MDU (multi-dwelling unit) market hot. In fact, the National Association of Home Builders' (NAHB) Multifamily Market Index showed a 13.5-point gain (on a scale from 1 to 100) in demand for luxury multi-dwelling units in the first quarter of 2005, compared to the first quarter of 2004.
What Do Builders Offer in Multifamily/Single-family Attached Dwellings?
Structured wiring: 51.9% offer standard
Monitored security: 65.3% offer optional
Mulitroom audio: 68.2% offer optional
Home theater: 52.9% offer optional
Automated lighting control: 58.8% not offered
Home automation: 58.8% not offered
Energy management: 46.9% not offered
Source: State of the Builder Technology Market Study, December 2005
MDUs By Numbers
9.6% boost in estimated dollar value of MDU construction completed in 2004 from the year before, despite the number of multifamily housing starts dropping 1 percent from 2003 to 2004. (U.S. Department of Commerce, Census Bureau)
13.5 points higher on a scale from 1 to 100 was the demand for luxury multidwelling units in the first quarter of 2005, compared to the first quarter of 2004 (Multifamily Market Index, National Association of Home Builders)
42.8% of MDUs built in 2005 had structured wiring (State of the Builder Technology Market Study, December 2005)
www.TecHomeBuilder.com