A Spike in Four or More Bedrooms in New Single Family Homes

The housing market is strong and both resale and new homes are strongly in demand. According to the U.S. Census Bureau Survey of Construction's (SOC) 2020 new single-family homes with four or more bedrooms increased. This trend could be because of more homeowners having to live work and play in their homes due to the pandemic.

The SOC reported that across the country 45.2% of new single-family homes started in 2020 had four or more bedrooms. This was up from 2019's report of 42.6%. Again this increase is due to the shift in buyers' desires in a home. The pandemic devastated the US economy in 2020 paving the road for record low interest rates. The low rates coupled with low housing inventory shot house prices up. First-time homebuyers who would purchase a home with less than four bedrooms were pushed out of the market.

This caused a shift in homes.  The 2020 SOC reduced share of new homes started with 2 bedrooms or less (9.7 percent vs 10.5 percent the previous year) corroborates the lowered presence of first-time homebuyers in the new home market that year.

The East North Central region was the only division that showed a decline in new single-family homes built with four or more bedrooms. Across the board, homes with less than 1,200 square feet had more homes built with fewer bedrooms.

If you are in the market for a new home, contact your local Realtor. A professional Realtor can help you through the whole process getting you what you want for the price you want.

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Buyers Who Are Looking For New Single-Family Homes Opt For A Single-Story

  According to the US Census Bureau’s Survey of Construction (SOC) and information gathered by NAHB two-story homes are on the decrease. They found in 2020 the same amount of two-story homes started was equal to single-story homes.

Nationwide, the share of new homes with two or more stories fell from 52% in 2019 to 50% in 2020, while the share of new homes with one story grew from 48% to 50%.  The South region has seen the most increase in one-story homes for three straight years. One story new homes started in 2020 shows the most in West South Central with 62%. The least was in New England with 15%.

The 2020 Survey of Construction shows each region divided by new homes with a single story and new homes with two or more. The Pacific region shows 39% built were one story while 61% were two or more, Mountain showed 51% single while 49% were two or more, West North Central had 57% one story while 43% were two or more, West South Central had 62% one story with 38% two or more, East North Central showed 56% were one story while 44% were two or more, East South Central showed 61% one story and 39% two or more, the South Atlantic came in with 48% one story and 52% two or more, Middle Atlantic with 28% one story and 72% two or more, and New England with 15% one story and 85% two or more.

That means that four of these nine divisions saw the greatest newly-built homes with two or more stories. In fact, two or more story homes were seen in greater amounts in the divisions along the coasts around the country. As far as single-story homes, the Midwest and South won.

A surprising twist to the current home market that might have stemmed from the pandemic. If you are in the market for a new home, call a local Realtor in your area. A Realtor will be able to help you with your home search.

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