Welcome to the BYTE, where we serve up the latest home and tech news from the last week for you to sink your teeth into.
This week we’re taking a BYTE out of the unseen, generational preferences, new home sales, working together, and downsizing. Dig in!
Redfin took a look at homebuyers from last year and asked them if during their search they bid on a home before seeing it in person, 35% said yes. That number is up from 33%. Millennial buyers were even higher at 45% and L.A. buyers were at a shocking 57%. With new technologies allowing people to “walk” through their future home online whenever they want or virtual walkthroughs with agents, people are less committed to having to actually having to be there to get a feel for a house. New tech is introduced everyday so we may see this number continue to rise.
Just A Number
Location, Location, Location
Realtor.com took a look at where Millennials, Gen X, and Baby Boomers each want to live. They looked at generational moving data from the census, change in homeownership, and search data. They found that millennials are loving big cities with the top three being: San Francisco, Seattle, and Houston. Gen Xers are more interested in big homes so their top three included: Houston, Miami, and Dallas, but Texas had five of the top ten cities. Boomers are looking for somewhere warm, primarily in Florida, which took six of the top ten spots. The top three are: Phoenix, North Port, Florida, and Miami.
New home sales have been projected to continue to climb, but in January new home sales fell 7.8% from December and was 1% below January 2017. The biggest decline was in sales of homes over $500,000. This may account for the drop in median new home sale price which fell from $336,700 to $323,000.
All Together Now
Cornell researchers have released a look at their Robotic Modeling Assistant (RoMA). This machine interacts with a human in real time. The person wears an AR headset and builds something with their hands in Augmented Reality. The robot then builds it out in the real world. While the structure may not be the most beautiful thing ever made, it could be a first look at how we will work with robots to build in the future.
New single family home size is continuing to decline. In the final quarter of 2017 median square footage of single family homes declined to 2,571 sq. ft. This trend is consistent with what usually happens after a recession, lots of big homes get built as the economy recovers then they begin to shrink with more starter homes being built.
You’ve heard of Bill Gates right? Well in case you are wondering if he goes shopping for himself, here is him guessing the price of grocery store items.