Residential Market Research for Innovation

From: HUD USER News
 
It is a critical time for the residential construction
sector. With single-family housing construction
increasing dramatically over the past five years, and
moderate slowdowns expected to keep construction values
near 2005 levels, the timing is right for the industry
to develop and introduce new technologies and
innovations. Efficiency and innovation will help address
some of today's mounting pressures - labor shortages,
increasing material costs, reconstruction in the wake of
natural disasters, and generally low profit margins.
Though the industry has been slow to adopt innovation
and new technologies in the past, these challenges pose
real opportunities for industry players who want to
maintain a competitive edge. Understanding how to
overcome the barriers to new technology development and
adoption is vital to fostering industry growth.
 
The Partnership for Advancing Technology in Housing
(PATH), a public-private initiative coordinated by HUD's
Office of Policy Development and Research, is exploring
the factors that influence the adoption of new
homebuilding technologies. Recent results are reported
in Residential Market Research for Innovation - 2006
Technical Report, which was produced in conjunction with
McGraw-Hill Construction. The study, which focuses on
how key players in the homebuilding process adjust to
and embrace new technologies, is the result of the
Symposium on Market Data for Housing Innovation. In the
Symposium, industry experts addressed the market
challenges presented by innovative housing technologies,
and identified what is needed to overcome obstacles to
adoption. The discussions, findings, and recommendations
of the Symposium are available in the report, which can
be downloaded from HUD USER free of charge at
 www.huduser.gov/portal/publications/destech/Res_mrkt.html or
purchased in print from the HUD USER Clearinghouse by
calling 800-245-2691, option 1.
 
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