New housing trends indicate smaller homes but larger kitchens, as reported at the National Association of Real Estate Editors conference. Data shows the median size of new single-family homes has shrunk by 300 square feet over the last decade, driven by rising construction costs and the need for affordability. Despite a decline in overall home sizes, consumer preferences favor larger kitchens and essential spaces like bathrooms and closets. Homebuyers express a willingness to reduce square footage from less essential areas, emphasizing the kitchen as a critical component of new homes.
Asked what part of the home they would shrink to keep prices affordable, buyers sent us a very clear message; they said, take the square footage from the home office and the dining room and the living room. But for God's sake, stay away from the kitchen, the closets and the bathrooms.
Median new house sizes have declined in six of the past 10 years, primarily due to unaffordable home prices driving builders to try to meet their buyers where they're at in terms of housing affordability.
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