The size of new homes is increasing as the pandemic continues and home shoppers look for more space to spread out. The average size of a new home has risen to 2,524 square feet, the National Association of Home Builders reports.
Also, the percentage of new homes with four or more bedrooms and three or more full bathrooms rose to 46% and 34% respectively, according to the NAHB’s newly released report, What Home Buyers Really Want. The NAHB released its annual survey during this week’s 2022 International Builders’ Show in Orlando, Fla.
Consumers say their home preferences have changed due to the pandemic. Millennials and Generation X, in particular, say they are looking for homes designed to accommodate multiple generations. In a separate study, conducted by the National Association of REALTORS® in 2021, the rising demand for multigenerational homes also became apparent: The number of home shoppers buying a multigenerational home since the pandemic began rose to a nine-year high of 15%. Read more: Buyers Are Increasingly Shopping for Multigen Homes