From rising interest rates to uncertain supply chains and increasing material prices, builders have been on a roller coaster ride over the last year. But, as we look ahead into 2024, experts are saying new construction “is the only game in town” for home buyers looking to get off the sidelines.
Our team has made some predictions and insights about what the next year might hold so builders can start preparing for the changes and challenges that lie ahead in 2024
Spoiler: Higharc can help you stay agile, evolve your business and adapt to whatever is thrown your way this year.
Here’s what we think is coming in 2024:
The Homebuyer Will Expect More
Whether it’s a new iPhone or their weekly groceries through an app like Instacart, in today's digital age, consumers have become accustomed to a fast, convenient and personalized shopping experience.
When it comes to purchasing a house, which is probably the most significant purchase a consumer will ever make, buyers expect the same level of convenience and accessibility.
Prediction: Home builders will be expected to keep up with modern buyer expectations more than ever. If not, they risk losing their competitive edge.
Agility is the Key to Success
If 2023 taught us anything, it’s that the industry can change overnight. But can your business adapt to those changes?
Whether it’s sudden market fluctuations or supply chain disruptions, technology can help builders stay ahead of the curve and respond quickly to changing circumstances. By investing in the right tools and solutions, you can future-proof your business against whatever comes your way.
Prediction: Technology will play a significant role in helping builders navigate changes, improve their offerings and scale their businesses faster.
Lead the way with AI
AI is everywhere. And whether you’ve used the technology or not, one thing is for sure: AI isn’t going anywhere and we’ve only begun to scratch the surface of its capabilities.
From improving visualizations to automating repetitive tasks, there are countless ways in which home builders can incorporate AI into different areas of their business to increase efficiency and save time.
Traditionally, the home building industry has been slower to adopt modern technologies. But AI advancements provide home builders with a chance to lead the way, adopt time-saving methods, and leverage enhanced efficiency and scalability.
Prediction: AI technologies will become more widely adopted in the home building industry to save time, scale faster and automate manual tasks.
Looking to make 2024 your best year yet?
Higharc can help you boost productivity, improve your bottom line, reduce cycle times and stay competitive in today’s market.
Keep your entire team connected with a cloud-based platform to make designing new products, managing change, and scaling options across communities become incredibly simpler and faster.
Reach out today to schedule a demo and start building your future with the cloud made for homebuilders.
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