A recently-released study by the National Assn of Home Builders (NAHB) shows that the recent housing downturn has changed what buyers want in their next home. Presented at the annual NAHB International Builders' Show, the results strongly indicate the indelible mark left by the recession on home buying trends.
Here are some key findings:
- Builders who were surveyed expect homes to average 2,152 square feet in 2015, 10% smaller than the average size of single-family homes started in the first three quarters of 2010.
- To save on square footage, the living room is high on the endangered list—52% of builders expect it to be merged with other spaces in the home by 2015 and 30% said it will vanish entirely.
- 54% of builders said the family room is likely to increase, making it the only area on the new home to get bigger.
- The relative size of the entry foyer and dining room are likely to be diminished by 2015.
- The average new home of 2015 is likely to feature a great room comprised of the kitchen, foyer and living room; a walk-in closet in the master bedroom; a laundry room; ceiling fans; a master bedroom on the first floor in homes with two stories; and a two-car garage.
- 68% of builders said that homes in 2015 will include more green features and technology, including low-E windows; engineered wood beams, joists or tresses; water-efficient features such as dual-flush toilets or low-flow faucets; and an Energy Star rating for the whole house.
Joe Giancarli, SA
Real Estate Advisor
609-658-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://www.njhomesource.com/
http://www.njhomesource.blogspot.com/
www.activerain.com/blogs/josephgiancarli
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