Share of Bedrooms in New Single-Family Homes in 2022

2023-12-14T07:23:07-06:00

By Jesse Wade on December 14, 2023 • The Census Bureau’s latest Survey of Construction (SOC) shows small changes in the share of number of bedrooms for new single-family homes in 2022 compared with the previous year. The current estimates indicate the share of new single-family homes with two bedrooms or less is 11.0%, three bedrooms, the largest share, had a share of 42.8%, four bedrooms make up 35.7% of new single-family homes, and five bedrooms or more had a share of 10.5% in 2022. Figure 1 shows the changes in the share of new single-family homes by number of bedrooms dating back to 2005. For the third straight year, the share of three-bedroom single-family homes declined, marking the lowest share in the series. The share of four-bedroom single-family homes also fell somewhat from last year. The share of new single-family homes with two bedrooms or less rose back up in 2022 to a share higher than homes with five bedrooms or more. Figure 2 below examines the difference between US Census divisions by share of new single-family homes with four or more bedrooms. The East North Central Census division had the lowest share of new-single family homes having four or more bedrooms at 29.4%. The highest share of new single-family homes built with four or more bedrooms was 51.7% which was in the South Atlantic Census division. Depending on a new single-family homes purpose of construction (Built-for-Sale, Contractor-built, Owner-built, Built-for-Rent), the number of bedrooms in the home greatly varied in 2022. Most of this variation comes from the two-bedroom or less homes and four-bedrooms homes. The share of new single-family homes with two bedrooms or less ranges from 5.4% of homes built-for-sale to 42.9% of homes built-for-rent. For the share of new single-family homes with three bedrooms, it ranges from 42.1% of built-for-sale homes to 46.7% of owner-built homes, displaying relatively little change across purpose of construction compared to the other number of bedrooms. The share of new single-family homes with four-bedrooms ranges from 12.0% of built-for-rent homes to 40.6% of built-for-sale homes. The last group, the share of new single-family homes with five-bedrooms or more, ranged from 2.3% in built-for-rent homes to 11.9% in built-for-sale homes in 2022. Single-family homes that were built-for-rent typically had far fewer bedrooms when compared to other purposes of construction. Single-family homes built-for-sale were three times more likely to have four-bedrooms than homes that were built-for-rent. ‹ The Fed Projects Lower Rates in 2024Tags: bedrooms, new homes, Single-Family homes, SOC, survey of construction

Share of Bedrooms in New Single-Family Homes in 20222023-12-14T07:23:07-06:00

Share of Homes Built in Community Associations Edges Down Again

2023-12-07T10:21:12-06:00

By Ashok Chaluvadi on December 7, 2023 • According to data from the Census Bureau’s Survey of Construction (SOC), 62.6% of single-family homes started in 2022 were built within a community or homeowner’s association.  This marks the second year in a row that the share declined, from the high point of 67.1% posted in 2020, and 65.5% in 2021.  Prior to 2021 the share had been on a decade-long upward trend.  In absolute numbers, a total of 623,096 homes were started in community associations in 2022, compared to 729,109 in 2021. The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created when the development is built, and membership is mandatory.” When analyzed by the 9 census divisions, the highest share was in the Mountain Division, where 78.6% of new homes were in such communities. In the New England Division, on the other hand, the share was only 34.5%. In the South Atlantic Division 71.4% of new homes started in 2022 had a community or home owner’s association, followed by the West South-Central Division at 68.6%, and the Pacific 52.4%. In the West North-Central Division, the share was 46.7%, while in the East North-Central Divisions it was 44.3%. In the East South-Central and Middle Atlantic Division 42.3% and 34.8% of new homes started in 2022 were within a community or home owner’s association, respectively. ‹ Two-Story Foyer Trend Sees a Slight Increase in 2022Tags: construction, economics, home building, housing economics, single-family, starts, survey of construction

Share of Homes Built in Community Associations Edges Down Again2023-12-07T10:21:12-06:00

Share of New Homes with Decks Under 18% Again

2023-12-04T14:17:06-06:00

As discussed in Eye on Housing last year, builders have been including decks on fewer and fewer new homes recently.  According to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC), well over 20% of all single-family homes started had decks from 2005 through 2018—as many as 27% in 2007 and 2008.  After 2017, however, the share started to drop every year, reaching a low of 17.5% in 2021.  In 2022, the share increased, but just barely, to 17.7%. This happened while, as shown in an October post, the share of new single-family homes with patios was climbing to an all-time high of 63.3%.  In fact, the correlation over time between the percentages of new homes with decks and patios between 2005 and 2002 was -.82, suggesting that patios on new homes have been serving as a substitute for decks. The tendency of patios to substitute for decks—i.e., patios being more common where decks are less common—is also evident at a single point in time across the nine Census divisions.  In 2022, the share of new homes with decks was at its lowest in the West South Central and South Atlantic divisions (4 and 13 percent, respectively), the same two divisions where the share of new homes with patios was at its highest (over 70 percent).  Across all divisions in 2022, the correlation between the percentages of new homes with decks and patios was -.76. Nevertheless, decks remain relatively popular on new homes in several divisions.  At the top, 62% of new homes in New England came with decks in 2022, followed by 45% in the West North Central and 37% in the East South Central. Moreover, NAHB surveys show that home buyers like decks nearly as much as they like patios.  In the 2021 edition of What Home Buyers Really Want, 75% of recent and prospective buyers rated decks essential or desirable—not too far below the 82% for patios.  NAHB will be releasing a new version of this study with more recent preference data at the 2024 IBS. Beyond the SOC, detail on the characteristics of decks on new homes is available from the Annual Builder Practices Survey (BPS) conducted by Home Innovation Research Labs. For the U.S. as a whole, the 2023 BPS report shows that the average size of a deck on a new single-family home built in 2022 was 309 square feet.  Across Census divisions, the average size ranged from a low of 221 square feet in the Mountain division to a high of 464 square feet in the Middle Atlantic and West South Central.  The BPS also shows a geographic split in the material builders prefer to use in new home decks.  In the New England, West North Central, South Atlantic and East South Central divisions, treated wood remains their top choice.  In the other five divisions, composite has moved ahead of treated wood—and usually by a wide margin. Decks may also be added to a home after it has been built, of course, and this is one way in which decks seem to be outdoing patios.  In the survey for the NAHB/Westlake Royal Remodeling Market Index, 23% of professional remodelers cited decks as one of their most common projects in the third quarter of 2023, compared to 15% for patio additions. ‹ October Gains in Private Residential Construction SpendingTags: BPS, builder practices survey, composite, decks, economics, home building, housing, patios, SOC, survey of construction

Share of New Homes with Decks Under 18% Again2023-12-04T14:17:06-06:00

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