Homebuilding in 2023: Looking Back on the NAHB International Builders’ Show

Earlier this year, we attended the NAHB International Builders’ Show in Las Vegas, Nevada. It was a great experience and it gave some fantastic insights into the future of construction and homebuilding for 2023. For those who missed out or for anyone who just wants to see some of the highlights, here are some thoughts on the show, upcoming industry trends, and where Epcon is going this year.?

Upcoming Industry Shifts?

One of the biggest takeaways from the show was hearing that experts are optimistic that the housing market will trend upward by the second half of the year. During an economic forecast session with Ali Wolf of Zonda and Robert Dietz of NAHB, it was predicted that December 2022 was likely the “bottom” for the market, as there has already been significant sales growth since the beginning of 2023. According to their analysis, mortgage rates will likely peak at around 7% following a final Fed rate hike in March, then trend downward to below 6% in late 2023 or early 2024. This will lead to a strong rebound for the second half of the year that continues into 2024.?

Another interesting trend that came up was the concept of how to build the best floor plan possible on a small footprint. The session ”Small House, Big Impact!” stressed that not every home has a lot of space to work with, so architects and builders must take steps to get the most out of the space they do have. This can be navigated in many unique ways, such as utilizing side-entry front doors to minimize hallway space or transforming dead space into a small office or back kitchen. It’s also important to prioritize value engineering: design the house widths that are divisible by both 2 and 4 for optimal truss spacing and roof sheathing usage.?

There was also an interesting talk called “Why Your Opinion is Worthless, But Your Perspective is Priceless”, which brought up the value of trust, both in building up your organization and attracting partners and clients. Rather than simply trying to force your opinion onto your team, it is better to communicate and garner trust with people, which makes it easier to persuade them and get people aligned with your perspective. By creating teams built on communication and trust, we can better serve our clients and the community.

Future Plans for Epcon?

Epcon was in attendance at IBS, which served as an opportunity to discuss our recent initiatives and what we’re working toward in 2023. For example, we attended the session “The Power of Construction Knowledge to Increase Sales Conversions”, which promoted On3 Field Learning. During the session it was brought up that various building practices can be potential selling points for customers, not just “above and beyond” features like zip wall sheathing, but even minimum code factors like “under-slab insulation.” While these might seem obvious to people in construction, few customers know building code requirements, so even basic “behind the walls” things could secure sales if integrated into the sales pitch. Since Epcon already works with On3, we’re looking into using their modules to give our sales consultants a better understanding of what goes into our homes that would be worth discussing with prospects, and this will likely set us apart from the competition.?

We also had a great conversation with Simpson Strong-Tie about the Pipeline program, specifically discussing how it can work alongside Higharc to provide savings and efficiencies through itemized POs. Higharc gives us the ability to generate sales-specific key measures, which are raw quantities based on the exact selections in the house. Pipeline can then convert those measurements into something more concrete once you have programmed your building practices into the software. We plan to promote Pipeline to our franchisees and greatly look forward to how it can change up our process.?

Lastly, we have a few more general improvements planned for 2023 as well. Enhancing curb appeal is a top priority for the year, with Cornerstone Building Products serving as a valuable business partner providing a number of products under their umbrella as we look to modernize our Craftsman and Farmhouse architectural styles. Additionally, ERPs are proving to be increasingly important within the industry, particularly for builders who struggle to implement new software and could use some assistance evaluating all of their options.?

Looking to the Future

All of us at Epcon were thankful for the opportunity to attend this year’s International Builders’ Show, as it gave us tremendous insight into what the field will look like in 2023 and beyond. The home building industry is one that’s always in flux, so events like these are incredible resources for connecting with our peers and keeping up with emerging trends. We’re already looking forward to next year’s event!?

If you want to see more of what the International Builders’ Show had to offer, be sure to check out the winners of this year’s Best of IBS, which covers a wide range of innovative and exciting products selected from over 400 submissions!