While the single-family home design is still considered the go-to for most developers, taking a look at past and present trends can give you a better idea of how you should invest in your new home, regardless of its final layout.
Here, we examine trends from the last two years and provide our take on what’s next for the ubiquitous, single-family home design:
Trend #1: Lack of space is not an issue
According a study conducted by the National Association of Home Builders, 2015 saw a drop in the median size of single-family homes between Q1 and Q2, from 2,519 sq. ft., to just under 2,480 sq. ft. although it seems generally flat, it shows there’s no direct effect towards the size of today’s families or the amount of space a newly built home is allotted.
Trend #2: Single-family home sizes have always trended upward, even in recessions
Observing the one-year moving average, a trend of leveling home size can be seen, although current sizes remain elevated.
For example, the average size of new single-family homes has increased 14% to 2,694 square feet, while the median size has increased 18% to 2,478 square feet, from this same time last year.
Trend #3: Home size growth is consistent with post-recession, economic upturn
Typically, new home size falls prior to and during a recession as some homebuyers cut back, and then higher-end home buyers tend to return back to the housing market in larger portions, due higher assets and lower credit constraints.
Essentially, the economic upturn that’s held, especially over the last two years, has increased this trend.
As you can see, there’s very little downtrend when it comes to home layout preferences from one homeowner to another. Our goal at Crescent Homes, though, is to make sure you’re making the best home-based decisions for your family, from day one.
For more information about the Charleston, SC area, or about the steps needed to take to call this place “home,” contact us today at firstname.lastname@example.org.