Local News and Information Archives for 2023-01
America’s home builders closely follow the preferences of today’s home buyers to ensure they enjoy their new homes. For example, builders responded at the height of the pandemic by adding square footage in new homes since people were spending more time at home. Now the trend is shifting, partly due to housing affordability factors. Here are a few notable trends in the residential construction industry based on recent U.S. Census Bureau data analyzed by the National Association of Home Builders (NAHB).
Home Size is Trending Lower
An expected impact of the pandemic was a need for more residential space, as people use homes for more purposes, including work. The housing boom after covid led to a new single-family home size rise. However, this trend is reversing due to housing market conditions, namely affordability. According to 2022 third-quarter U.S. Census data and NAHB analysis, the median single-family square floor area declined to 2,276 square feet, compared to 2,326 in the third quarter of 2021.
“We work closely with Chattanooga builders and developers and have seen the incredible ways they have worked to meet the challenges and needs of homebuilders through the pandemic, supply shortages and other stressors. Our builders’ answers to the ever-changing housing market are one of the reasons why Chattanooga remains a top place to move in the U.S,” notes Carrie Brisendine, Assistant Vice President of Southern Heritage Bank.
New Homes Have More Bedrooms and Bathrooms
According to the most recent data available, only a small percentage of new single-family homes have two bedrooms or less (9.2%), while nearly half (44%) of new homes had three bedrooms and more than a third (36%) had four bedrooms. Moreover, 2021 marked the second year that the share of four-bedroom homes increased.
In addition, a majority (62%) of new single-family homes have two full bathrooms. According to an NAHB analysis, since 2005, most new homes tend to have two full bathrooms. And it is no surprise that an overwhelming majority (93%) of homes that were 5,000 square feet or more had three or more full bathrooms.
Patios are Preferred to Decks
Homeowners treasure their outdoor space. For the sixth consecutive year, 2021 showed that the share of new homes with patios increased. In contrast, the share of new homes with decks is trending in the opposite direction. However, decks remain relatively popular in certain parts of the country, according to NAHB. For example, more than half (60%) of new homes in New England came with decks in 2021.
Interest in Two-story Foyers Declines
In 2021, most new single-family homes were built without a two-story foyer nationally and regionally. According to the Census Bureau, a two-story foyer is an entranceway inside a house's front door and has a ceiling at the second-floor ceiling level. In the United States, the share of new homes with two-story foyers fell from 29% to 25% in 2021, the lowest level in the last five years. A two-story foyer has been an unwanted feature for many home buyers since 2012, as many consider two-story foyers energy inefficient.
For more information on new home trends or how to find a home builder in the Chattanooga area, visit www.HBAGC.net.
The beginning of 2023 is the perfect time to start planning for a home project. To keep your space comfortable and functional, it’s essential to keep up with home maintenance. You’ll be surprised by how a refresh or clean-up can be fun and personally rewarding. So here are a few new year’s resolutions for your home.
Add Space to Increase Your Comfort. After spending more time at home during the pandemic, many homeowners are reevaluating their living spaces and want more of it. According to the National Association of Home Builders recent analysis of U.S. Census data, the average size of a new single-family home is 2,506 square feet. If you’re ready to expand your space, visit the HBAGC member directory to find an experienced builder or remodeler. A residential construction industry professional can guide the feasibility of your project, estimates, zoning, building codes and the permitting process.
Refresh Your Floors. Taking steps to refresh your home in the new year doesn’t always require major renovation. One way to liven up your living space is to replace your flooring. Style and décor aren’t the only factors to consider when selecting new floors. Other features you’ll want to consider when replacing the floors in your home are durability, maintenance, and the amount of moisture in the specific area of your home. Connect with a professional remodeler to help you evaluate what will work best for your home.
Spruce Up Your Lawn. A well-manicured front lawn can make all the difference in curb appeal. If your yard needs attention, start with a basic clean-up. Try pruning trees, trimming shrubs, and removing weeds. Once your yard is cleared, consider planting a tree or adding flowers for a fresh look this year.
Increase Your Energy Efficiency. There are a variety of ways to reduce energy consumption in your home. One step is replacing heating, cooling, or water heaters with more energy-efficient units. If your appliances are new or energy-efficient, remember to do regular maintenance so your units can run optimally. Installing drapes and shades on windows are also easy and low-cost ways to regulate the temperatures in your home.
Declutter Your Home. Another year has gone by, so you may have accumulated more items in your home. By decluttering your home, you may find that you have the space you need. Experts recommend clearing your home room by room to avoid feeling overwhelmed. To help manage what stays and what goes, sort items by type: toss, keep, reuse/repair, recycle and donate.
For more information about home repairs or renovations, check out our other blog articles and publications or contact us here at the Home Builders Association of Greater Chattanooga.
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