While much research has been produced on the rise of “smart” and “connected” homes, it is still difficult to really understand how these systems will help homeowners have a more productive and comfortable time living in their homes. In a very real sense, technology is poised to upend the property market for the better.
Technology has been a huge part of the rise of smart home technology in recent years, and now it could be the key to making homeownership more affordable and enjoyable. For example, the average cost of home ownership in the US is $1.5 trillion (inflation adjusted) per year.
With technology and smart home systems, we could see homeowners having more time on their hands. A recent study done by the National Association of Realtors found that the average house purchase from a home buyer in 2010 was about 3 years, and that this trend is even more pronounced with the rising population of people of color.