By Rose Quint | Eye On Housing
After rising for six consecutive years (2010 to 2015), the average home size in the US has fallen steadily for the past four years (2016 to 2019). In fact, estimates indicate the average home built in 2019 was the smallest since 2011. This trend is evidence that builders are working to meet the demand for smaller homes; that they are trying to shift their production mix toward more entry-level homes affordable to first-time buyers.
Given this reality, it is important to keep in mind what it is first-time buyers most want to have in a home. Below are some of the findings recently presented at the 2020 International Builders’ Show (IBS).
What type of home do first-time buyers want?
- 77% prefer a single-family detached home
- 1,977 square feet is the median size home they want
- 59% would prefer to live in the suburbs
- 40% want a 2-car garage, but 12% want no parking facility at all
- 76% want the kitchen and the family room to be completely or partially open
- 57% want the laundry room on the first floor
- 70% want stainless steel kitchen appliances