Parking Garages for New Homes 2023

2024-10-04T09:20:25-05:00

In 2023, 66% of newly completed single-family homes featured two-car garages, according to NAHB’s analysis of the Census’s Survey of Construction data. This was the most common parking option across all Census divisions. By Census division, South Atlantic had the highest share of two-car garages at 72%. Three or more car garages were most popular in the West North Central division (38%), while one-car garages were most frequent in the Middle Atlantic division (22%).”Other” parking options, including carports and off-street parking, were most common in the East South Central division (17%). Nationwide, the share of new homes with three or more car garages was 17% in 2023. Three or more car garages have been trending downward since the peak of 24% in 2015, decreasing 2% from 2022.  One-car garages were present in 8% of new homes, another 2% possessed a carport, and 8% did not have any garage or carport. As home size increased, the share of homes with one-car garages or “other” parking options decreased. For homes under 1,200 square feet, “other” parking options were most common (72%). As home sizes go over 5,000 square feet, this share drops to just 2%. One-car garages were most common in homes between 1,200 and 1,599 square feet (18%), while only 1% of homes over 5,000 square feet had this feature. Two-car garages were most prevalent in homes between 1,600 and 1,999 square feet (72%), with the largest share at 81% for homes between 2,000 and 2,399 square feet. For homes between 2,400-2,999 square feet, the two-car garage share fell to 77%. Two-car garages were also the most popular options for homes 3,000-4,999 square feet as well with a smaller share at 58%. Three-car garages were rare in smaller homes (3% for those under 1,200 square feet) but became the most common option (65%) for homes over 5,000 square feet. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Parking Garages for New Homes 20232024-10-04T09:20:25-05:00

Two-Story Foyer Trend Declines in 2023

2024-10-03T10:15:08-05:00

In 2023, a quarter of new homes were built with a two-story foyer, down slightly from 26% in 2022, according to data obtained from the Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB. The market share of two-story foyers has been generally trending downward over the past seven years, with most new single-family homes being built without a two-story foyer nationally and regionally. According to the Census, a two-story foyer is defined as the entranceway inside the front door of a house and has a ceiling that is at the level of the second-floor ceiling. In the United States, the share of new homes with two-story foyers fell from 26% to 25% in 2023, closer to the low level seen in 2021. This feature is often considered energy-inefficient and is seen as undesirable by both builders and buyers. The declining trend is in line with NAHB’s What Home Buyer’s Really Want, in which recent and prospective buyers rated their preference for 18 specialty rooms. The study found that two-story entry foyers was one of the least desired specialty rooms, with 32% buyers likely to reject a potential home with this feature, and only 13% seeing it as an essential/must-have feature. Regionally, the share declined in five of the nine divisions. The decline was particularly pronounced in West South Central and New England, reversing the notable increases seen in 2022. In both divisions, the shares have now returned closer to their 2021 levels. The Middle Atlantic and West North Central were the only two divisions to see an increase in the share of two-story foyers from 2022 to 2023, with both shares reaching their highest levels since 2017. Meanwhile, shares in the South Atlantic and Pacific remained unchanged in 2023. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Two-Story Foyer Trend Declines in 20232024-10-03T10:15:08-05:00

Bedrooms in New Single-Family Homes in 2023

2024-09-23T09:22:18-05:00

In 2023, the most common number of bedrooms in newly-built single-family homes continued to be three at a 45.7% share.  This share is up almost three percentage points from 42.8% in 2022. The second highest share was single-family homes with four bedrooms at 33.1%, followed by homes with two bedrooms or less at 11.5% and then homes with five or more bedrooms at 9.7%. As shown above, the share of single-family homes started with three bedrooms rose to its highest level since 2019. While this share rose, the second most frequently built number of bedrooms (four) fell to 33.1%, the lowest share for such homes since 2012. At the same time, the share of new single-family homes with 2 bedrooms or less reached its highest level since 2012. The share of homes with five bedrooms or more has remained fairly stagnant at around 10% over the past ten years. Regions Across U.S. Census divisions, the share of new single-family homes with four or more bedrooms features distinct variations. The share ranged from a low of 22.0% in the New England division to the highest share of 47.9% in the West South Central division. Coinciding with the fall in the share of new single-family homes with 4 bedrooms or more nationally, there are no divisions that have a share above 50%. In 2022, the data featured the South Atlantic (51.7%), Pacific (51.4%) and West South Central (50.6%) all with above 50% shares. Purpose of Construction The number of bedrooms in the home greatly varied in 2023 depending on a new single-family home’s purpose of construction (built-for-sale, contractor-built, owner-built, built-for-rent). Most of this variation comes from the two-bedroom or less homes and four-bedrooms homes. For example, the share of new single-family homes with two bedrooms or less ranges from 5.7% of homes built-for-sale to 38.4% of homes built-for-rent. Meanwhile, three-bedroom homes and five or more bedroom homes display relatively little change across purpose of construction, as shown in the chart below.    Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Bedrooms in New Single-Family Homes in 20232024-09-23T09:22:18-05:00

Custom Home Building Share Declines in 2023

2024-09-20T09:32:18-05:00

In 2023, 18.8 percent of all new single-family homes started were custom homes. This share decreased from the 20.4 percent recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). The custom home market consists of contractor-built and owner-built homes—homes built one at a time for owner occupancy on the owner’s land, with either the owner or a builder acting as a general contractor. The alternatives are homes built-for-sale (on the builder’s land, often in subdivisions, with the intention of selling the house and land in one transaction) and homes built-for-rent.    In 2023, 71.5 percent of the single-family homes started were built-for-sale, and 9.7 percent were built-for-rent. At an 18.9 percent share, the number of custom homes started in 2023 was 177,850, falling from 207,472 in 2022.  The quarterly published statistics show that the custom home share of single-family starts showed gains in the second quarter of 2024 after some recent slowing. Although the quarterly statistics are timelier, they lack the geographic detail available in the annual data set. When analyzed across the 9 census divisions, the annual data show that the highest custom home share in 2023 was 35.5 percent in the East South-Central division. While the lowest share was in the West South-Central division, where the share was only 11.9 percent. The share of custom homes across U.S. divisions are showed in the map below. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Custom Home Building Share Declines in 20232024-09-20T09:32:18-05:00

Where are Laundry Rooms Located? 

2024-09-11T10:16:26-05:00

In 2023, the majority of homes started featured laundry connections on the first floor (72%), according to the Census’s Survey of Construction. Laundry located on the second floor or higher was the second most prevalent at 26%. The basement, garage, and other locations all had a 1% or lower share.   In NAHB’s What Home Buyer’s Really Want1, home buyers are surveyed on where they would like their laundry located. While the first floor remained the most desired location for laundry at 60%, preferences diverged significantly for other locations. The basement was the second most popular choice at 17%, followed by the garage at 15%, and only 7% for the second floor or higher.  This comparison highlights a disconnect between what builders are offering and what buyers are seeking. While builders are largely opting for laundry connections on the first or second floor, a notable portion of buyers prefer the basement or garage. This variance is shown in the chart below. There are also regional differences in where laundry is placed. The first floor was the most prevalent across every division but ranged from 91% in West South Central to 59% in the South Atlantic. Second-floor laundry was highest in the Pacific division at 43% but was lowest in the West South Central at 8%.   The West North Central had a 13% share of homes with the laundry room in the basement, the only division with a share above 5%; They are also the only division with most homes having a full or partial basement. No regions had over a 2% share of laundry located in the garage.  What Home Buyer’s Really Want breaks down buyer preferences further by age, household composition, race/ethnicity, buyer income, and more. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Where are Laundry Rooms Located? 2024-09-11T10:16:26-05:00

Number of Bathrooms in New Single-Family Homes in 2023

2024-08-27T10:30:08-05:00

A majority of single-family homes started in 2023 continued to have two full bathrooms according to the latest release of the Census Bureau’s Survey of Construction.  According to the latest data, 64.7% of new single-family homes started in 2023 had two full bathrooms, 23.8% had three full bathrooms, 6.9% had 4 or more full bathrooms, and only 4.6% had one full bathroom or less. The recent data features the largest increase since 2018 in single-family homes with two bathrooms, as the share increased from 62.3% to 64.7%. This reverses the trend of the past two years when this share consecutively decreased. The share of single-family starts with 3 full bathrooms fell for the second straight year, down to 23.8%, while the share of single-family starts with 1 full bathroom or less rose to 4.6%, the third straight increase. Single-family homes started with 4 or more bathrooms share decreased to 6.9%, after increasing the prior two years. Across the U.S., the New England census division had the highest share at 75.6% of new single-family starts having two full bathrooms. This share jumped by 22.2 percentage points from 2022, and this was the first time since 2017 that the New England share was the largest in the nation. The lowest share census division was the Middle Atlantic, with 50.0% of new single-family starts reporting two full bathrooms. The share of new single-family started with two full bathrooms fell 9.2 percentage points from 2022 in the Middle Atlantic. Half-Bathrooms Most new single-family homes started in 2023 have no half-bathrooms at 54.7%. Following closely is the share of new single-family homes with one half-bathroom at 43.8% . New single-family starts with two or more half-bathrooms had a small share of 1.5% in 2023. Half-bathrooms are historically prevalent in the New England census division as 79.8% of new single-family starts had at least one in 2023. Half-bathrooms were the least common in the West South Central, with only 38.3% of new single-family starts reporting at least one half-bathroom. A trend of note is in the Pacific, where the share has fallen for five consecutive years, from 53.2% in 2018 to 40.7% in 2023. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Number of Bathrooms in New Single-Family Homes in 20232024-08-27T10:30:08-05:00

HVAC in New Construction 2023

2024-08-06T11:16:11-05:00

Almost all new single-family homes that started construction in 2023 used either an air/ground source heat pump or a forced air system (without heat pump) for the primary heating system (98% in 2023), according to the Census’s Survey of Construction.  While this survey data does not separate the air source heat pump systems and ground heat pump systems (geothermals), another study discusses their usage in green building. Additionally, 17% of homes used a secondary type of heating equipment.  Heating Systems The type of heating system installed varies significantly by Census Division. In warmer regions of the country, air/ground source systems are more common with an 81% share in the South Atlantic and a 72% share in the East South Central. In colder regions, very few homes have air or ground-source heat pumps: only 7% of new homes started in New England and only 8% in East North Central. Forced air systems without heat pumps burn fuel to produce heat, while heat pumps transfer heat by moving air. Therefore, in extreme climates (below freezing), heat pumps can become less efficient due to the limited ambient heat available. In general, the share of new homes using an air or ground-source heat pump as the primary means of providing heat has increased, going from 23% in 2000 to 45% in 2023. Meanwhile, the share relying on a forced air system without heat pumps has slipped, going from 71% to 53% in the same time frame. Primary Fuel for Heating The SOC also provides data on the primary fuel used to heat new single-family homes. Approximately 54% of new homes started in 2023 use electricity as the primary heating fuel, compared to 43% powered by natural gas, 3% using bottle or liquified petroleum gas (propane), and 0.1% using oil. Heating fuel sources closely align with the types of heating systems used, with air and ground-source heat pumps running on electricity and most forced air systems without heat pumps using natural gas or propane. Consequently, the primary heating fuel source differs significantly by region across the country. For example, in New England only 10% of new homes used electricity as the primary heating source. In contrast, 83% of new homes started in the South Atlantic use it. Additionally, while most regions fall under 10% in their usage of propane, New England had a 29% share and East North Central had 11%. Air Conditioning In 2023, 98% of new single-family homes started had a central AC system, rising from 97.1% in 2022. This percentage has risen steadily since 2000 when only 85.5% of homes had a central AC system. Though the share of new single-family homes started with central AC differs across the country’s nine Census divisions, the highest share is concentrated in the South region: 100% of homes started in the South Atlantic, East South Central, and West South Central divisions had central AC installed. Closely falling behind were the West North Central and Pacific Divisions, both at 98%. Trailing last were the Middle Atlantic (95%), East North Central (94%), Mountain (93%), and New England (89%) divisions. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

HVAC in New Construction 20232024-08-06T11:16:11-05:00

Share of Non-Conventional Financing Increased in 2023

2024-07-31T09:24:35-05:00

Nationwide, the share of non-conventional financing for new home sales accounted for 32.4% of the market per NAHB analysis of the 2023 Census Bureau Survey of Construction (SOC) data. This is a significant 4.3 percentage point increase from the 2022 share of 28.1%. As in previous years, conventional financing dominated the market at 67.6% of sales, albeit lower than the 2022 share of 71.9%. Non-conventional forms of financing, as opposed to conventional mortgage loans, include loans insured by the Federal Housing Administration (FHA), VA-backed loans, cash purchases and other types of financing such as the Rural Housing Service, Habitat for Humanity, loans from individuals, or state or local government mortgage-backed bonds. The reliance on non-conventional forms of financing varied across the United States, with its share at almost 40% in West South Central but only 17.1% of new single-family home starts in the Middle Atlantic division. Nationwide, cash purchases were the majority share of non-conventional financing of new home purchases, accounting for 14% of the market share, slightly up from 13% in 2022. NAHB survey based on builders reported that for 2024, all-cash sales are a higher share at 22%. FHA-backed loans accounted for 12%, whereas in 2022, it was only 8% of the market share. The share of VA-backed loans was at 4% market share in 2023, while Other Financing was 3% of market share. Regionally, cash financing held the highest share in East South Central, where 24.6% of all homes started were purchased with cash. Except for the South Atlantic, West South Central, and the Pacific, cash purchases led non-conventional financing in the remaining six census regions. Cash purchases accounted for 22.0% in East North Central, 16.9% in New England, 12.3% in Mountain, 12.0% in Middle Atlantic, and 10.6% in West North Central region.    FHA-backed loans accounted for the majority of all non-conventional financing in the West South Central division accounting for 20.8% of the homes started. This share has gone up considerably  from 12.9% in 2022. The New England division reported the lowest FHA-backed loans with only a share of 1.2% of the homes started in 2023. VA-backed loans were most used in the South Atlantic division, which accounted for 5.9% of non-conventional forms of financing. In New England, none of the homes started used VA-backed loans in 2023.   Other financing such as the Rural Housing Service, Habitat for Humanity, loans from individuals, state or local government mortgage-backed bonds was highest in East North Central where it was collectively 5.6% of market share, while Middle Atlantic division reported the lowest share at 0.9%. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Share of Non-Conventional Financing Increased in 20232024-07-31T09:24:35-05:00

Market Share of 5,000+ Square Foot Homes Declines in 2023

2024-07-26T10:19:36-05:00

The number of homes started in 2023 exceeding 5,000 square feet, dropped to 26,000, a decrease from 29,000 in 2022, according to the annual data from the Census Bureau’s Survey of Construction (SOC). In 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. This number proceeded to drop during the Great Recession and hit a low of 11,000 in 2009. Since 2013, this number has remained consistently above 20,000, and reached a small peak of 33,000 in 2021. Of the total number of new homes started in 2023, the share of new homes with 5,000+ square feet was down slightly as well, from 2.90% in 2021 to 2.76% in 2023. In 2015, the 5,000+ square foot home share reached a peak of 3.92%. Since then, the share has fluctuated in a band between 2.50% and 3.08%.  The 2023 decline in the share of 5,000+ square foot homes is consistent with the recent, quarterly downward trend in median and average size of new single-family homes.  Tabulating the major characteristics of 5,000+ square foot homes started in 2023, the data shows 84% have a porch, 79% have a finished basement, 67% have 4 bathrooms or more, 61% have a patio, 60% have a 3-or-more car garage, 50% belong to a community association and 58% have 5 bedrooms or more.  Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Market Share of 5,000+ Square Foot Homes Declines in 20232024-07-26T10:19:36-05:00
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