Homes are 300 square feet smaller than a decade ago, and the smallest size for a typical house since 2009.
New home sizes have been shrinking for the past 10 years, but buyers still want big kitchens, surveys show. The median size of a new home in the U.S. decreased by 300 square feet since 2015, Census figures show.
Those are the key trends in the new housing market, two experts said at the National Association of Real Estate Editors conference this month in New Orleans. “The biggest trend happening now in housing is not the features inside the home. It’s the size of the home,” National Association of Home Builders researcher Rose Quint said. The median size of a new single-family home last year was 2,146 square feet, recent U.S. Census data show. That’s 300 square feet smaller than a decade ago, and the smallest size for a typical house since 2009. Median new house sizes have declined in six of the past 10 years.Lot sizes are getting smaller as well, shrinking by a fifth since 2009, to just over 8,500 square feet, according to the census.“Elevated construction costs are driving builders to try to meet their buyers where they’re at in terms of housing affordability,” she said.Nonetheless, consumers don’t want builders to skimp on the size of kitchens, bathrooms and closets, the homebuilder association’s latest buyer survey shows. The association sent questionnaires to 3,000 recent and prospective homebuyers, asking them to rank more than 200 home features, from patios to windows and technology. Asked what part of the home they would shrink to keep prices affordable, buyers “sent us a very clear message,” Quint said.“They said, take the square footage from the home office and the dining room and the living room. But for God’s sake, stay away from the kitchen, the closets and the bathrooms. Do not touch those spaces,” she said. Surveys showed further that consumers prefer islands and eating spaces in the kitchen, walk-in pantries, water filters, pull-out shelves, recessed lighting and storage for wine and spices. And island countertops are getting bigger, added Bill Darcy, chief executive of the National Kitchen & Bath Association, who also addressed housing writers at the NAREE conference. As dining and living rooms disappear, the kitchen isn’t just for cooking anymore, he said. It’s where children do homework and family members congregate for a variety of tasks.New home buyers also want both a shower and a tub in their master bathrooms. In high-end homes, they’re adding luxury features like towel warmers and steam rooms. As for smart-home technology, buyers are most interested in just two key products: smart thermostats and security cameras, including video doorbells.“They’re leaning on technology to help them do two things: increase the safety of their home … and to more efficiently control the temperature of their homes,” Quint said.have fallen 12% over the past 2 1/2 years, while existing home prices have gone up 9%, figures from the Federal Reserve Bank of St. Louis and the National Association of Realtors show. “Five years ago, about 17% was the premium of a new home over an existing home,” Quint said. “Last year 3%.”Anger, uncertainty at UCLA hospital after immigration agents arrive with woman in custodyHandcuffed woman in Raiders gear steals LAPD SUV — and gets away near Magic CastleWoman gets life for masterminding husband’s murder in Woodland HillsSan Fernando Valley man admits to laundering millions of dollars obtained in a Medicare fraud scheme
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More than 300 flights delayed, dozens canceled at Denver International AirportMore than 300 flights headed in and out of Denver International Airport on Tuesday were delayed amid dense fog and a temporary ground stop.
Read more »
ESPN Junior 300: Where Pa. football players landed for the Class of 2027The ESPN Junior 300 rankings released its first list for the Class of 2027 in high school football. Here's where Pennsylvania players landed.
Read more »
ESPN Junior 300 Comparisons for top 2027 prospectsLooking ahead to the junior class recruits, and how the top player at each position stacks up.
Read more »
Denzel Washington's Final Movie With Tony Scott Made Up For Their Disappointing 2009 RemakeDenzel Washington as Frank Barnes and Chris Pine as Will Colson stand on a moving train in emUnstoppable/em.
Read more »
Pro-DEI Musk Ally Jared Isaacman Arrested, Sued by Trump Casino Over Fraudulent Checks in 2009Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
J.J. Spaun Becomes Largest Underdog Champion to Win U.S. Open Since 2009Spaun's pre-tournament odds of +12,500 translated to a 0.79% chance he'd win the U.S. Open.
Read more »