NAHB 2013 Takeaways with KWA President Keller Webster

I started off 2013 by attending the National Association of Home Builders (NAHB) International Builders Show in Las Vegas, where I was humbled and grateful to sit amongst a notable group of multifamily industry pioneers that have helped build, and continue to shape, our space within the construction market.

Below are some interesting takeaways that I think are worth sharing:

1) Experts forecast prosperous years

David Crowe, chief economist for the National Association of Home Builders, is forecasting 2013 as a great year in the multifamily industry, projecting 299,000 individual apartment units will be built by years end. He also anticipates 2014 will follow suit with an equally busy building year.

2) Stay the course

Political analyst Charlie Cook addressed our NAHB board, regarding pending legislative changes. While Charlie warned, “Your industry needs to be vigilant,” he also commended the NAHB’s due diligence and preparation. In line with the NAHB’s legislative anticipations, Charlie confirmed that Congress will likely turn its focus to tax reform with housing tax provisions, housing finance reform, and immigration reform that can impact the construction workforce.

3) Senior market continues rising

As a 50+ Housing Council Trustee, I had the privilege of talking with my peers about the state of our senior market. It’s reported by PewResearch that approximately 10,000 people per day turning 65, so there is a growing need for attention to senior housing. A rising trend is the Federal Housing Administration’s support of their reverse mortgage for seniors – Home Equity Conversion Mortgage (HECM). Texas’ reverse mortgage legislation is currently in review and anticipated to bring positive news for seniors in our state later this year.

4) 50+ seek lifestyle amenities

The 50+ Housing Winners were announced, and top honors highlighted projects with heavy GREEN features and lifestyle amenities. In a recent NAHB study titled “What Home Buyers Really Want,” all buyers, baby boomers and the great generation ranked the following “must haves” as tops:

All Buyers Baby Boomers Great Generation (Seniors)
Laundry Room Laundry Room Laundry Room
Exhaust Fan in Bathroom Exhaust Fan in Bathroom Exhaust Fan in Bathroom
Ceiling Fan Ceiling Fan Ceiling Fan
Exterior Lighting Double Kitchen Sink Bathroom Linen Closet
Bathroom Linen Closet Exterior Lighting Table Space for Eating in Kitchen

It’s always a treat to get together with influencers and decision makers in our multifamily world. I’m eager to attend our next state-of-the-industry gathering, and I look forward to sharing the latest findings with each of you. For highlights from the IBS, click here.