This article was originally published by a www.houzz.com . Read the Original article here. .
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.
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Porches continue to rank as the most common outdoor feature on new homes, according to NAHB tabulation of the latest data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from HUD). Of the roughly 950,000 single-family homes started in 2023, the SOC data show that 67.7% were built with porches. This is four full percentage points higher than the 63.7% reported for patios, and marks the first time the share of new homes with porches has surpassed two-thirds since the re-design of the SOC in 2005.
Traditionally, porches on new homes have been most common in the four states that make up the East South Central Census division. That was true again in 2023, although by the narrowest of margins. While 81% of new homes in the East South Central had porches in 2023, that was only a single percentage point higher than the 80% recorded in the Pacific Division. The share was also over 70% in four other divisions: the Mountain (77%), South Atlantic (74%), East North Central (73%) and New England (72%). Once again, the division with the smallest share of poches on new homes was the West South Central (42%). After some significant changes between 2021 and 2022, the 2023 divisional percentages were not drastically different from the ones reported for 2022 in last year’s post.
Detail about the characteristics of porches on new homes is available from the Builder Practices Survey (BPS), conducted annually by Home Innovation Research Labs. Among other things, the 2024 BPS report (based on homes built in 2023) shows that porches continue to be most common on the front of new single-family homes, rather than on the side or rear. When on the front, porches average approximately 100 square feet of floor area, compared to 140 square feet for a side or rear porch, and 200 square feet for a screened-in porch.
On a square foot basis, builders continue to use concrete more than any other material in new-home porches—except in New England, where composite (a blend of usually recycled wood fibers and plastic) is most common, and treated wood, PVC or other plastics, cedar, and natural stone are each used more than concrete.
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On average, 40% of builders’ single-family home sales so far in 2024 have been made to first-time home buyers, according to the most recent NAHB/Wells Fargo Housing Market Index survey (HMI). That share has doubled since 2016, when only 19% of builders’ sales went to first-time buyers.
Our limited time-series on this topic in the HMI survey indicates that first-time home buyers purchased an increasing share of new homes between 2016 and 2021, when the proportion rose from 19% to 43%. Unfortunately, the series has a two-year hiatus (2019 and 2020) when no data are available.
Since 2021, however, growth in the new home first-time buyer share has stopped. After holding steady at 43% in 2022, the share has lost ground in each of the past two years, slipping to 42% in 2023 and then to 40% in 2024.
More granular analysis shows there is a direct correlation between the first-time buyer share and builder size. In other words, the larger the builder, the more likely it is for a higher share of its sales to go to people buying a home for the first time.
To be more precise, builders with 1 to 5 single-family starts a year reported that only about 18% of their sales so far in 2024 have gone to first-time buyers. That average increases to 21% among builders with 6 to 24 starts, to 34% among those with 25 to 99 starts, and reaches 44% among builders who start at least 100 homes a year.
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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.
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Shares of new single-family homes built with private wells and individual septic systems decreased in 2023, compared with the previous year. NAHB tabulation of data from the Survey of Construction (SOC) indicates approximately 9% of new single-family homes started in 2023 were served by individual wells and 17% had private septic systems. There are large variations for these shares across the nine Census divisions with the corresponding shares reaching 26% and 38% in New England – the highest occurrence rates in the nation.
Nationally, 9% of new single-family homes started in 2023 were served by individual wells, with the majority relying on public water systems, which include community or shared supplies. In New England, where the median lot size is almost 3 times larger than the national average, 26% of new homes used private wells. Private wells were also common in the East North Central division, where nearly 22% of new homes had them. The Middle Atlantic division had the third-highest share at 14%. These divisions, along with the South Atlantic division (13%), surpassed the national average of 9%. Conversely, individual wells were rare in the East South Central and West South Central divisions, accounting for only a 1% share.
For sewage disposal, 82% of new homes were connected to public sewers (including community or shared sewage/septic systems) in 2023, and 17% utilized individual septic systems. The share of individual septic system decreased from 18% in 2022 to 17% in 2023.
The use of individual septic systems varied by division. In New England, 38% of new homes had private septic systems, while the East South Central, South Atlantic, and East North Central divisions reported 30%, 25%, and 23% shares, respectively. These shares, including the Middle Atlantic (18%), were above the national average of 17%. Shares were below average in the Mountain (10%), West North Central (10%), Pacific (8%), and West South Central (6%) divisions.
Compared to the previous year, the proportion of new single-family homes with individual septic systems fell in five out of nine divisions. Notably, New England saw a decrease from 46% in 2022 to 38% in 2023. Meanwhile, the Pacific, Middle Atlantic, South Atlantic, and East South Central divisions experienced slight increases, ranging from 1% to 2%.
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In 2022, the total count of second homes was 6.5 million representing 4.6% of the total housing stock, according to NAHB estimates. This reflects a decline from 2020, when the number of second homes stood at 7.15 million.
As of 2022, the state with the largest stock of second homes was Florida (1 million), accounting for 15.3% of all second homes. Wyoming had the smallest stock with approximately 16,320 second homes, . Half of the nation’s second homes can be found in these seven states – Florida, California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania.
In-depth analysis of the county level data shows that the concentration of second homes is not simply restricted to conventional locations like beachfront areas. There were 807 counties spread over 50 states where second homes accounted for at least 10% of the local housing stock. Only Washington D.C. was the exception, reporting a second home share of 1.8%. Across the nation 314 counties, 10% of all counties in the U.S., had at least 20% of housing units that were made up of second homes.
Counties where at least half of their housing stock is second homes were widely spread over in 14 states. Of these counties, four were in Wisconsin, four in Colorado, two in Michigan, Minnesota, Utah, California, Massachusetts, and Pennsylvania, and one county each in Alaska, Idaho, Maryland, Missouri, New Jersey, and New York, These national patterns are mapped below.
Counties with more than 25,000 second homes are mostly located in or near metropolitan areas. The top 10 counties with the most second homes account for around 11.2% of second home stocks, most of which were in Arizona, Florida, California, Massachusetts, and New York. Of the top 10 counties regarding absolute numbers of second homes, only three counties (Lee County, Florida, Barnstable County, Massachusetts, and Collier County, Florida) had more than 20% of their housing stock in second homes.
In terms of methodology, this analysis focuses on the number and location of second homes that would be qualified for the home mortgage interest deduction by individuals using the Census Bureau’s 2022 American Community Survey (ACS). It does not account for homes held primarily for investment or business purposes.
NAHB estimates are based on the definition used for home mortgage interest deduction: a second home is a non-rental property that is not classified as taxpayer’s principal residence. Examples could be: (1) a home that used to be a primary residence due to a move or a period of simultaneous ownership of two homes due to a move; (2) a home under construction for which the eventual homeowner acts as the builder and obtains a construction loan (Treasury regulations permit up to 24 months of interest deductibility for such construction loans); or (3) a non-rental seasonal or vacation residence. However, homes under construction are not included in this analysis because the ACS does not collect data on units under construction.
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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.
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MetroCreative
New real estate rules for homebuyers and sellers went into effect last weekend.
The rules, which impact the way commissions work, stem from a $418 million settlement between the National Association of Realtors and home sellers earlier this year.
The federal class-action lawsuits claimed that homeowners were being forced to pay artificially inflated real estate commissions when they sold their homes.
The rules boil down to two significant changes.
First, under the new rules, homes listed on a Multiple Listing Service, or MLS, will no longer include a seller’s offer to cover the cost of a buyer’s agent’s services.
“That’s the biggest change for us in Western Pennsylvania. Now, we are not allowed to advertise the buyer’s agent’s commission in the MLS,” said Scott Cavinee, a real estate agent for SWC Realty in Uniontown.
A seller can still allow a commission split, but the agreement cannot be listed on the MLS.
Second, home buyers who want to work with an agent will have to sign an agreement up front that details exactly what commission the buyer will pay the agent – including whether it’s through a commission split with a seller’s agent – before working together or touring homes in person or virtually with their agent.
That’s not entirely new, said Beverly A. Herndon, president of the Washington-Greene Association of Realtors, as about a dozen states already required those written agreements.
“Pennsylvania has had a buyer agency agreement since 1999 – we’ve been doing it for about 25 years – so nothing in regard to that should change,” said Herndon.
Traditionally, an agent for a person selling a home would typically take a 5 or 6% commission on a home sale. It was intended to be shared with the buyer’s agent and was considered a standard, if informal, practice.
Armand Ferrara, a real estate agent with SWC Realty in Belle Vernon, noted commission has always been negotiable.
“Commission has always been negotiable,” he said. “Let’s say I’m going to list your house and I’m going to list for 6% commission, but we want to give the buyer agent a part of that commission, maybe 3%. You might say, ‘I don’t want to give the buyer agent anything and I don’t want to give you 6%. Commission is optional; that’s not new.”
Cavinee said sellers should be aware that buyers can still ask the seller to pay some, or all of the fees of their agent.
“If the only offer coming in is a buyer who asks for the seller to cover “X” percent, the seller will do it if he wants to sell that house,” said Cavinee. “It’s like saying, ‘Will you leave that living room suit?’ It’s part of the negotiations.”
If a seller doesn’t agree to pay the buyer’s agent, the buyer is responsible for it, which can impact first-time and low-income buyers who might not have a lot of cash, Cavinee said.
Herndon said it’s important to have a trusted, licensed agent to navigate the complicated process of purchasing or selling a home, which is often the biggest financial purchase a person will make.
Kim Shindle, vice president of communications for the Pennsylvania Association of Realtors, agreed.
“It’s important for home buyers or those selling their homes to understand the important role Realtors play guiding them through home buying or home selling,” she said. “They lend their knowledge about the local marketplace, where each area is different.”
Herndon said it’s too soon to tell what impact the changes will have, but said ultimately, the purpose is to provide transparency “so the consumer is fully informed as to what is required on both sides.”
This article was originally published by a www.observer-reporter.com . Read the Original article here. .
The share of new homes with patios increased to yet another record high in 2023. Of the roughly 950,000 single-family homes started during the year, 63.7% came with patios. This is up from 63.3% in 2022 and marks the eighth consecutive year the percentage set a new record high. The source for these numbers is NAHB tabulation of data from the Survey of Construction (conducted by the U.S. Census Bureau with partial funding from the Department of Housing and Urban Development).
Historically, fewer than half of new homes came with patios during the 2008-2011 period of extreme weakness in housing markets. But soon thereafter, the share jumped to 52.4% in 2012 and has been climbing ever since. The percentage has now increased in thirteen of the past fourteen years. The only exception was 2015, when the percentage was unchanged.
While patios for new homes have generally become more common over time, the parts of the country where they tend to be most common have remained consistent. At the low end, only 17% percent of new single-family homes built in New England and 20% in the Middle Atlantic came with patios in 2023. At the high end, the incidence of patios on new homes was over 80% in the West South Central and close to 70% in the South Atlantic and Mountain divisions. The geographic tendencies are similar to the ones reported in last year’s post.
Additional detail on the characteristics of new-home patios is available from the Annual Builder Practices Survey (BPS) conducted by Home Innovation Research Labs.
For the U.S. as a whole, the 2024 BPS report (based on homes built in 2023, like the SOC-based statistics cited above) shows that the average size of a new-home patio is about 290 square feet, but with considerable geographic variation. The average is over 400 square feet in the East South Central and about 380 square feet in New England; but under 200 square feet in the West South Central, and only a little over 200 square feet in the adjacent West North Central division.
In most parts of the country, poured concrete dominates all other building materials used in new-home patios. In the East South Central, for instance, poured concrete accounts for over 90% of new-home patios on a square-foot basis. To the extent that there are exceptions, they occur on the east coast. In the South Atlantic, concrete and brick pavers each have about a quarter of the market, and poured concrete has less than half. In New England, the market is more or less equally divided among poured concrete, concrete pavers and natural stone. In the Mid-Atlantic, brick pavers are the most popular choice for new-home patios by a substantial margin.
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Dupes also preserved and replicated some of the original millwork and added more personality with details such as an ogee edge on the island’s marble-look quartz countertop. The kitchen gained some space as well, after a full bathroom behind the wall on the left became a powder room.
Perimeter cabinetry and pantry paint: Pure White, Sherwin-Williams; island base paint: Mt. Rainier Gray, Benjamin Moore; tile: Eveningstar mosaic (accent), Seaport in Arctic White (field) and Thassos marble pencil liner in white (trim), TileBar
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