| CEA finds home technology preserves builder profits |
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March 20, 2009 Despite the current economy and decline in the housing market, builders have not abandoned home technologies, according to new findings in the 7th Annual State of the Builder Technology Market Study released today by the Consumer Electronics Association (CEA). A majority of builders remain committed to home technology and recognize its importance in marketing new homes, says CEA. Consumer desire for electronics helped preserve builder revenue in the current housing market. 71% of builders report that technology helped them preserve home renovation revenue that might otherwise have declined this year because of the down economy—an increase of ten percentage points from last year. “Home technology is poised to take off as the economy and housing market improves,” said Steve Koenig, CEA’s director, industry analysis. “Builders are aware of the value of home technology and have increased their marketing efforts, suggesting builders are leaving no stone unturned to help move inventories while recognizing the importance of home technology for consumers.” Builders are finding more selling points in entertainment-related technology features, which corresponds with the growing consumer trend to stay at home in light of the economy. Builders have increased entertainment-related offerings such as multi-room audio (69%) and home theatres (74%) in 2008. Home theatre installation was up eight percentage points in 2008 and was the only category that did not decrease or remain the same in overall installations. CLICK HERE to visit CEA. |
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