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Single-Family Rental Market on Top of 2014 Home Building Trends

2014 Home Building Trends have changed significantly, according to the National Association of Home Builders (NAHB). The recent report on Home Building Trends by NAHB shows that single-family rental market is on the rise. NAHB has also made research on size of the homes as well as the different kinds of facilities buyers are more interested in. According to NAHB, builders are now more interested in building bigger homes for the buyers. Because of demand from the clients, the home builders have also changed the scope of amenities.

NAHB

Rich Single-Family Home Buyers are on Target

According to NAHB, average income of people has had a significant growth over the last couple of years. NAHB report shows that in 2005 the average income was $91768 whereas in 2011 the average income has soured to $107607. The report also shows that home builders have experienced a decline in new home sales since there are now fewer people who have the money and credit to go for their own homes even at this time of economic crisis. All these things have influenced the home builders to target rich new single-family home buyers. The recent statistics shows that the rich home buyers are now more interested in bigger homes for their single families to live in. In fact, this has been trending over the last couple of years. This has resulted in average home size to grow from 2362 square feet to 2679 square feet over the last 4 years.

What’s New in Single-Family Homes

The single-family home buyers are more interested in having more bedrooms and baths. The recent trend shows that the demand for at least four bedrooms has increased from 34 percent in 2009 to 48 percent in 2013. The buyers also want to make it sure that the garage is large enough for at least 3 cars. Among the other features that are on an upward trend are master bedroom, E windows, laundry, energy efficient appliances, ENERGYSTAR rated windows etc.

What’s trending Low

Just as some amenities are on the rise, there are some amenities quite popular a few years back are trending quite low and may not be popular in 2014. According to NAHB, laminate kitchen countertops, a media room, outdoor fireplace, whirlpool in master bath etc will not be popular in 2014.