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Industry Landscape
The US residential construction industry is experiencing mixed signals. While housing demand remains strong due to low inventory and population growth, high interest rates and material costs are posing challenges. Emphasis on sustainability and smart home technology is growing, driving innovation in building practices. Supply chain issues persist, impacting construction timelines.
Total Assets Under Management (AUM)
New Private Housing Starts in United States
~1.327 million units (as of Feb 2024, seasonally adjusted annual rate)
(-2.8% CAGR)
Housing starts have seen recent declines due to rising interest rates impacting affordability. Single-family starts are down, while multi-family starts show some resilience. Regional variations exist, with some areas experiencing stronger growth than others.
Total Addressable Market
500 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Modular and Prefabricated Construction
This involves constructing building components or entire structures off-site in a factory setting, then transporting and assembling them on the building site.
Advanced Building Materials
Innovations such as self-healing concrete, smart glass, advanced insulation, and bio-based materials offer enhanced performance, durability, and sustainability.
AI-Powered Design & Construction Management
Artificial intelligence and machine learning are being used for optimizing architectural design, predicting material needs, streamlining project management, and enhancing predictive maintenance.
Impactful Policy Frameworks
Washington State Energy Code (WSEC) 2021
Effective July 1, 2023, the WSEC 2021 significantly strengthens energy efficiency requirements for new residential construction, promoting heat pumps and electric appliances.
This policy directly impacts True Built Home by requiring more stringent energy-efficient building practices and material specifications, potentially increasing initial construction costs but offering long-term savings for homeowners.
Oregon Residential Specialty Code (ORSC) 2021
The ORSC 2021, adopted in October 2021, includes updates to energy efficiency provisions, aligning with state goals for decarbonization and increased use of renewable energy.
True Built Home must adhere to these updated building codes in Oregon, potentially influencing their choice of HVAC systems, insulation levels, and overall building envelope design.
Accessory Dwelling Unit (ADU) Legislation (Washington & Oregon)
Recent legislative changes in both Washington (e.g., HB 1337, 2023) and Oregon (e.g., HB 2001, 2019) aim to ease restrictions on ADU construction to increase housing supply.
This legislation creates a significant opportunity for True Built Home to expand its offerings of ADU and multi-generational home plans, catering to a growing market segment interested in flexible living spaces and rental income.
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