MORTGAGE BLOGPosted On December 22, 2016
Devices like learning thermostats and smart home security systems are changing the way homeowners integrate technology into their homes. Smart home devices are having such a significant impact, that the National Association of REALTORS® released its first report on smart homes last month.
The most popular smart home technology for buyers and sellers was security and privacy systems with 80% of REALTORS® ranking them as very or somewhat important. Other sought after smart home devices included smart locks (37%), lights (29%), and thermostats (26%). 4 out of every 10 respondents cited cost and energy savings related to smart home devices as very important to their clients.
Home service providers are taking notice. Comcast recently announced it will add two new lighting partners to its Xfinity Home platform, as well as enable voice-controlled home security and automation commands. Nest Labs, acquired by Google for $3.2 Billion, produces the popular Nest Protect and Nest Learning Thermostat. These smart devices allow consumers to remotely control the thermostat, for example turn off the furnace to prevent a fire, and monitor their homes, to catch incidents like “porch pirates” stealing unattended packages.
NAR President William E. Brown reported, “more homeowners are adopting smart-home technology that will likely impact buyers’ decisions in the future.” Overall, 42% of REALTORS® said their clients expressed interest in smart devices for the home.
To read the full report, click here to access resource.
Sources: Nest, Yahoo Finance, Realtor Mag, Mercer Space
