MADISON, Wis. — The newest homes were on display on Sunday for the final day of the Madison Area Parade of Homes, where developers are showcasing energy-efficient technology amid a growing housing affordability crisis.
The event highlights homes designed with modern features aimed at the future of homeownership.
Those features included solar panels, geothermal heating and cooling, deep-rooted native plants and electric vehicle charging.
“Solar, geothermal heating and cooling, deep-rooted native plants, EV charging — so, all of our homes include those features, and then each home also has its own architectural taste,” said Estella Moschkau, a project manager and real estate broker. “As we know, there’s been quite a bit of fluctuating energy prices throughout the country. Our homes are a bit more resilient to both the grid outages and the fluctuating energy prices.”
The parade of homes features a variety of price points, including starter homes. Many buyers are still feeling the pressure of rising housing costs.
“We see and we feel the increase in housing costs, and it’s real,” Madison Chamber of Commerce President Zach Brandon said. “The cost of housing has continued to steadily increase.”
Kristin Nesbitt, Summit Credit Union vice president of loan operations, said many buyers are not able to make a traditional down payment.
“I would say the majority of our homebuyers do not have 20% down,” Nesbitt said.
At a time when more young adults are interested in buying homes, this year’s Parade of Homes may leave some prospective buyers window-shopping instead.
For more coverage of housing affordability in Madison, follow the “Priced Out” series each week on Channel3000.com.
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