Homebuyer Sentiment Surveys Point to Smaller Homes, Open Spaces

New surveys of consumer preferences presented on Jan. 13 at the International Builders’ Show in Orlando, Fla., indicate that today’s homebuyers want smaller residences with more open spaces, according to coverage by BuilderOnline.com.

National Association of Home Builders Assistant Vice President for Survey Research Rose Quint reported that home sizes continued trending downward in 2009. The average size of American homes completed in 2009 was 2,377 sq. ft.; whereas, in 2008, the average size was 2,438 and in 2007, it was 2,570. She added, however, that the average size of homes put under construction in 2009 was actually up at 2,400 sq. ft.

American household size is shrinking, too. According to BuilderOnline.com, one- and two-person households now represent more than 63 percent of U.S. households with married couples representing less than 50 percent of the market. But with population growth on a steady rise, Quint said she expects housing demand to remain strong. The U.S. population is projected to grow to 322.4 million by 2015.

Builders are responding to the new market. BuilderOnline.com reported that 52 percent of builders surveyed by NAHB say they will be building smaller homes in 2011, and three-fifths of those builders also expect to be building less expensive residences. Builders say homebuyers want larger family rooms, more combined living spaces, low-E windows and programmable thermostats. They also expect more and more homes to be Energy Star rated.

Despite the emphasis on smaller houses, Jill Waage, editorial director of Better Homes & Gardens’Home Content Core, told attendees that her surveys show 40 percent of current homeowners expect their next home to be larger, BuilderOnline.com reported. Homebuyer priorities include more efficient HVAC systems and appliances, more outdoor living spaces, low-maintenance exteriors, and private backyards.