Smart home technology is slowly but surely catching on in the residential industry as homeowners look to simplify everyday tasks and to control their home features at the touch of a button. Consumer surveys from the New Home Trends Institute reveal that safety, seamlessness, and functionality are the top three traits of smart tech that resonate strongly with homeowners.
According to John Burns Real Estate Consulting, homeowners are most likely to adopt efficient and healthy home products like water monitor sensors, smart ventilation, and hands-free flush toilets, among others. Young family homeowners are most likely to implement home technology features in the coming years, but smart tech solutions are winning over consumers from every generation as newer and more innovative products hit the market.
We expect Young Family homeowners (families with children under age 12) to adopt smart tech at the highest rates. They tend to actively seek out smart tech products while others simply come across them online when searching for home solutions. However, we anticipate rapid growth among all life stages once smart tech products are supported by improved solutions that address key data privacy concerns that have been holding other groups back from embracing them.