Economists, builders and analysts expect smaller homes to make a comeback in coming years with the return of entry-level buyers.
Still, the shift toward larger new homes in recent years has been remarkable. Commerce Department data released this week show unprecedented demand in 2014 for homes with four or more bedrooms, three or more bathrooms and three-car garages.
The annual Characteristics of New Housing report found that 46 percent of single-family homes constructed last year had four or more bedrooms, up from 44 percent in 2013 and from 34 percent in 2009. Thirty-six percent of the homes built last year had three or more bathrooms, up from 33 percent in 2013. Meanwhile, two-car garages remain the norm, but they’re receding in popularity – to 62 percent of homes built last year from 64 percent in 2013 — while three-car garages increased to 23 percent from 21 percent.
Two other trends gained traction last year. Homes built with patios rather than porches or decks increased to 20 percent of new construction in 2014 from 17 percent in 2013. That reflects the broad preference among builders and buyers for patios that serve as outdoor kitchens, accessible through large sliding doors that often make the patio appear to be part of a home’s living space.
For the full story, on the Wall Street Journal, click here.
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