Can you see it? There is a steaming trend for smaller, more personalized homes in 2024 as housing affordability has been an issue in recent years. Home sizes are decreasing, with new preferences for homes around 2,000 SQFT reflecting changes in buyer preferences and housing affordability. Builders are responding by constructing smaller homes and offering more affordable finishes to bridge the affordability gap. Buyers prioritize personalization and unique design features, alongside a strong interest in technology and energy efficiency in homes, as well as, outdoor and kitchen features. Any buyer loves to personalize their home to their needs, wants, and tastes so it feels like it was just made for them, and they feel like they have a different home than their neighbors. This is reflected in the style of the home and the upgrades that buyers choose to incorporate into their homes, whether it’s creating an island that looks like a piece of furniture, higher quality cabinets, more expensive flooring, or a wine cellar.
Home features that remain at the top of buyers’ wish lists include four outdoor features, two kitchen features, and two related to energy efficiency:
•Laundry room
•Patio
•Energy Star window
•Exterior lighting
•Ceiling fan
•Garage storage
•Front porch
•Hardwood flooring
•Full bath on the main level
•Energy Star appliances
•Walk-in pantry
•Landscaping
•Table space in the kitchen
Technology features are becoming increasingly popular, most notably security cameras, wired home security systems, programmable thermostats, video doorbells, multizone HVAC systems and energy management systems.
Other home features that have seen strong growth in popularity over the past 10 years include:
•Quartz or engineered stone for kitchen countertops
•Lighting control systems
•Outdoor fireplaces
•Outdoor kitchens
•Built-in kitchen seating
•Exposed beams
Additional information on home buyer trends can be found in NAHB’s What Home Buyers Really Want (2024 edition).
