IBS Wrap Up: What We Know From the Show
If you attended the International Builders’ Show in Orlando last week, we are confident that you left feeling positive about the upcoming year. Whether it was the industry news updates, health of the market, innovative products, or the over 80,000 attendees, exhibitors, and building professionals at the show, there was a lot of excitement buzzing up and down the 13 acres of exhibits. We know that over the course of the 3-day show, you can suffer from a bit of information overload, so here are some of the highlights from the show that can help you stay on point and on trend.
The positive momentum on the show floor had a lot to do with the gradually improving residential market. New construction starts are continuing to trend upwards, with an estimated 6.6% increase in housing starts for 2017 over 2016. The national average home price is also expected to increase to around 4.1%, according to NAHB chief economist, Robert Dietz. With the increase in home prices and housing starts, there are a few points that builders and designers should note:
- Market to millennials: It’s time to prepare for millennials to dip their toes into the home building market. On the top of these young homebuyers’ wish lists, particularly those who have lived in small apartments in the city, are homes with modern appliances and the clean lines they have become accustomed to in the city.
- Trading size for luxury: Due to the increase in land prices, attainability remains one of the toughest challenges for first time homebuyers, who are willing to go with smaller home sizes to focus more of their budget on higher quality products throughout the home. Developers are now looking to innovative solutions to address both of these concerns such as pod or pocket living. Not to mention, home sizes dropped for the first time since 2009, according to the U.S. Census Bureau.
- Clean lines are king: The building trends for new homes are moving toward contemporary, as well as modern farmhouse/rustic craftsman styles.
Seen an increase in shiplap or white in new houses and remodels? You can thank design influencers like Chip and Joanna Gaines of “Fixer Upper” for these new trends. Influencers will play a big part in design trends throughout 2017. Here are some of the trends we should see throughout the year:
- Gray is the new beige: Gray and white remain popular both on the interior and exterior of the home. This new neutral is timeless and fresh, and pairs perfectly with the clean look of contemporary homes. A case in point is Trespa, a siding company and one of our clients. All of their new gray wood décor samples flew off the shelf before the show was even half over.
- Black is back: Black is fast-tracking a comeback. From light walls, to countertops with dark flooring and cabinetry, stylish black accents are showing up in homes to add polish and drama, and contrast white and gray color palettes.
- Brace for brass: Brass is also making a comeback for accent colors, along with gold and recently introduced and on-trend rose gold fixtures.
- Bring the indoors out: The trend to bring the indoors outside remains hot. Home-buyers wish to re-create what they have inside outside with their decks and outdoors living spaces. In fact, 51% of millennials say they desire to decorate their outdoor spaces like their indoor spaces, according to NAHB chief economist, Robert Dietz.
- Cut the cords: Smart home tech is now everywhere, and we mean everywhere. From the locks on your front doors, right down to toilets that play music for you (we won’t judge), smart tech has taken over every aspect of the home. One great example we saw of this was Moen’s new product, the U.
With so many great takeaways from this year’s show, we are excited to see the market continue to grow, as well as watch different trends evolve throughout the year. If you attended the show, we would love to hear your thoughts! Feel free to chime in on trends you are seeing either on our Facebook or Twitter pages. Or, reach out via email: firstname.lastname@example.org