New homes are getting bigger

As the COVID-19 pandemic refuses to disappear, people are looking for bigger homes. Now, builders report that the average size of the new homes they’re building has increased to 2,524 square feet as buyers look for greater space.

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The National Association of Home Builders said in its What Home Buyers Really Want report that the percentage of homes with four or more bedrooms and three or more full bathrooms has increased, to 46% and 34%, respectively.

Consumers say their home preferences have changed due to the pandemic. Millennials and Generation X, in particular, say they are looking for homes designed to accommodate multiple generations.

In a separate study, conducted by the National Association of Realtors in 2021, the rising demand for multigenerational homes also became apparent: The number of home shoppers buying a multigenerational home since the pandemic began rose to a nine-year high of 15%.

Overall, new-home buyers also are showing a greater desire for exercise rooms, home offices, and patios. The percentage of single-family homes with patios climbed to 63%. Americans are showing more desire to expand their outdoor spaces, researchers note. Millennials also indicated particular interest in homes with front porches, according to the NAHB’s report.

The most popular new must-have features in new homes are laundry rooms, exterior lighting, ceiling fans, patios and walk-in pantries, the report added.

“I love the fact that styles are cyclical, and that front porches are becoming popular again,” Allison Paul, principal at Lessard Design, said while presenting the NAHB data. “People want to be outdoors.”

About Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]

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