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Homebuilders join the 'smart home' craze

Posted by The Aramco Group on Sun, Oct 8, 2017 @ 14:10 PM

Over the last two years devices like Google Home and Amazon Echo have grown from novelty items on the kitchen counter to smart home hubs with over seven million devices in American households as of 2016. Analytics firm VoiceLabs, which studies such trends, estimates that this year another 24.5 million will be shipped.

The growing trend in technology that can remotely turn on the lights, lock the doors and start the coffee has led to a partnership between Apple and home builder Brookfield residential to create an entire community of smart homes from the ground up. Likewise, Amazon has teamed with Lennar to integrate its Echo devices into new homes.

While the housing market may still be lightyears from the Jetsons, these changes may be the beginning of a new era. Meanwhile, conforming no-point 30-year fixed mortgage rates averaging 3.875 percent while 15-year rates are near 3.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.