The 2014 International Builders’ Show (IBS), presented by the National Association of Home Builders (NAHB) took place the first week of February at the Las Vegas Convention Center. Held alongside the National Kitchen & Bath Association’s Kitchen and Bath Industry Show, this year’s event was a spectacular success, kicking off the industry’s first annual Design & Construction Week™.
We were wowed by this year’s event, soaking in as much as we could by attending as many educational sessions as possible, and logging literally miles walking through the convention center, visiting as many exhibits as possible.
Many home trends were highlighted at this year’s events, some of which were on another level - $10,000 commercial-grade double ovens for high-speed cooking, even more Wi-Fi-enabled appliances, “smart” appliances, and high-tech homes.
One of the biggest trends from IBS is the emergence of small homes in a move that Gayle Butler, the editor-in-chief of Better Homes and Gardens, is a matter of “right-sizing,” as opposed to downsizing. “Either by necessity or choice, they’re willing to take a step back from the McMansions,” Butler said at IBS this year. Out of 733 potential new-home buyers surveyed by the magazine, 32 percent said they expected their new home to be somewhat smaller or much smaller than the one the currently live in.
In response to this trend, the NAHB reported that 88 percent of builders surveyed in January said they are building or planning to build a large share of smaller homes. Additionally, 89 percent said they planned on building more lower-priced homes.
Buyer priorities are shifting – while it is likely primarily economy-driven, we also like to think that buyers are becoming more money-smart. They are conscious of how financial choices made now can impact their future financial planning. This year’s IBS gave us much to chew on – we already can’t wait for next year!
By Rachel Ballard