Answering the Call From Today’s Homebuyers
Home builders are responding to affordability concerns and changing demands of the American homebuyer, according to coverage of the International Builders’ Show (IBS), held by the National Association of Home Builders (NAHB) from Jan. 19-21. The NAHB refers to IBS as the home building industry’s largest annual trade show.
This year’s event showcased homes designed to accommodate more than one family or help homeowners earn extra income. According to The Wall Street Journal (subscription required), one concept home featured a separate second-floor unit to accommodate adult children living at home or aging parents.
The 5,200 square-foot home from Element Design Build is in response to more buyers needing to house more than one generation under the same roof. A National Association of REALTORS® (NAR) study found 13 percent of 2014 home purchases “were by a multigenerational household, consisting of adult siblings, adult children, parents and/or grandparents.”