Multifamily Absorption Rates Fall for Third Quarter Completions; Share of Subsidized Units Rose in 2022

By Housing
The Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA) estimates that 57% of 85,530 unsubsidized, unfurnished apartments completed in the third quarter of 2023 were absorbed within the first 3 months following construction completion. For condominiums, 68% of the estimated 5,571 units completed in the third quarter of 2023 were absorbed in the… Read More ›

4 Devices for Simple Smart Home Integration

By Design, Education, Member Blogs, New Homes

Brought to you by HBA Gold Industry Partner, Gorman Bros.

You’ve probably heard the phrase, “There’s an app for that.” Anyone who’s entered an appliance store lately would agree the new slogan is “There’s a smart device for that.” Integrating your smart home doesn’t have to mean buying every appliance on the market with a screen. We recommend beginning with only a few simple devices first.

Starting with these simple appliances familiarizes you with Wi-Fi connected products without it getting too overwhelming. But first, let’s discuss the importance of these devices. 

Why Consider Smart Home Integration?

Over the last decade, a surge of Wi-Fi connected products has hit the market. It may be tempting to write this off as another short-lived trend. However, many smart devices provide practical benefits that last long into the future. Coldwell Banker even reports that millennial homeowners would pay an additional $3,000 for a home with smart appliance integration. So, what are four easy ways you can start your smart home journey? 

Smart Lights

With their practical benefits and simplicity, smart lights are a great kick off your smart home integration. Motion sensors enhance security, while automation saves money by shutting lights off during off times. Furthermore, you can easily control smart lights with your phone or smart speaker like Alexa.

Smart Air Conditioner

Air conditioning is the only way to prevent your Louisiana home from turning into a summertime sweat lodge. Cool air, however, leaves quite a dent in our monthly utility costs. Luckily, smart air conditioning lets you gain more control over your energy costs and temperature.

Smart Air conditioners are energy-conscious, cutting electricity costs. Smart ACs don’t need to blow at max capacity to keep your home cool. After reaching your chosen temperature, the device slows down to conserve energy while keeping your family cool. You can also program these devices to shut off when unused, expanding your savings on overall energy costs.

Smart Plugs

Possibly the simplest way to make your appliances “smarter,” Smart plugs let you digitally control nearly any device just by plugging it in. You can set these plugs on a schedule to save energy or manually control them through your phone. Smart plugs also work for any number of devices as they come in single ports and full charging strips.

Smart Locks and Video Doorbells

Smart locks are another excellent device for smart home skeptics. They work by locking deadbolts either manually or on a schedule. You can also pair your locks with motion-sensing lights to activate as someone approaches. Next, we’ll discuss how smart locks can be paired with other devices for added protection.

Video doorbells are another practical smart product with substantial security benefits. Video doorbells use LED sensors to record video and audio. Video doorbells are often paired with smart locks and lights to maximize home security. Many video doorbells are on the market with features like facial recognition and personalized greetings.

Talk to an expert

After reading, you might want to jump head-first into your smart appliance journey. However, we recommend consulting with a smart home integration professional before investing in any appliances. If you want confidence in your installations, we recommend working with one of our partners, like Gorman Brothers Appliance and Lighting Service. Their experts will work with you to find and install exactly what you need. Contact them today to learn more.

 

Home Price Gains Continued in December

By Housing
National home prices continued to increase, hitting a new all-time high in December. Despite high mortgage rates, limited inventory and strong demand continued to push up home prices. Locally, six of 20 metro areas, experienced negative home price appreciation in December. The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI), reported by S&P Dow Jones Indices, rose at a… Read More ›

Labor Shortages Ease, But Remain Worse Than in the Last Boom

By Housing
With home building volumes lower, labor shortages have eased considerably since record levels set in 2021 but remain relatively widespread in a historic context, according to results from the latest NAHB/Well Fargo Housing Market Index (HMI) survey. The February 2024 HMI survey asked builders about shortages in 16 specific trades. The percentage of builders reporting a shortage (either some or… Read More ›

Existing Home Sales Jump in January

By Housing
Following a cycle low in December, existing home sales rose to a 5-month high to start the year, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the seventh consecutive month of year-over-year median sales price increase. It is also the first time in 14 months that… Read More ›

Multifamily Missing Middle Construction Unchanged

By Housing
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the fourth quarter of 2023, there were just 4,000 2- to 4-unit housing unit construction starts. This is flat from a year prior…. Read More ›