Judie Docs, Executive Officer, North Coast Building Industry Association (NCBIA) www.ncbia.com, CSP, MCSP, CGP, CMP, MIRM
COVID-19 has impacted the way many homeowners utilize their space. With more time spent at home, there is an increased preference among homeowners to have more space to accommodate a range of activities from teleworking to managing hybrid school schedules. Recent housing data has confirmed this continuing trend.
According to data from the U.S. Census and a National Association of Home Builders (NAHB) analysis, the median single-family square floor area increased to 2,337 square feet, while the average square footage for new single-family homes increased to 2,541. These metrics have increased 9.3% and 6.2%, respectively, since Great Recession lows.
The desire for larger homes is supported by other recent housing trends data. Recently, the U.S. Census released their Bureau’s Survey of Construction’s (SOC’s) 2020 estimates of the shares of the number of bedrooms in new single-family homes. The data showed a sharp upswing in the percentage of new homes started with four or more bedrooms, unlike in prior recent years.
Nationally, the share of single-family homes started with four bedrooms or more increased from 42.6 percent in 2019 to 45.2 percent in 2020. These developments are linked to changes in the makeup of home buyers from the previous years.
In 2020, the detrimental economic effects of the COVID-19 pandemic, a low-interest rate environment in the United States, and low housing supply together drove prices up, leaving some prospective first-time home buyers out of the market. Successful buyers were generally looking for more space.
The survey also showed that new homes started with lower square footage had fewer bedrooms built. For example, in homes less than 1,200 square feet, 83 percent had two bedrooms or less and the remaining homes were all three-bedrooms. Similarly, in the next tier of home size, 1,200 to 1,599 square feet, 31 percent of all new homes started had two bedrooms or less, 67 percent had three bedrooms, and the remaining percentage was taken by homes with four bedrooms.
Looking ahead, experts expect home sizes to increase again, given a shift in home buyer preferences for more space due to the increased use and roles of homes (for work, for study) in the post-COVID-19 environment.
We are your local not-for-profit trade association representing member companies involved in all aspects of home building, remodeling, and other aspects of services available to help you in the future as well as more information on the above topic. So, you can see it is for your protection that you use a NCBIA member. If you are unsure that your contractor is a member of the NCBIA or you are looking for a list of NCBIA members, you can visit our website at www.ncbia.com or call 440-934-1090. We also have a job posting board (under the industry tab).
Visit our New 24/7 Virtual Parade of Homes!!! Allows you to look at some of our builders’ new homes and communities on your mobile device or computer at your leisure (including our remodelers) We know time is our greatest asset and via our NCBIA Virtual Parade of Homes, we save you time looking for a new home or a community that fits your lifestyle. The Virtual Parade of Homes is open online 24/7. Many of the homes featured in our Virtual Parade host regular open house hours for those consumers who are looking to tour the actual homes. You can click through to builder websites to see what they have to offer.
See us on Facebook and share us!