New Home Trends 2015 - Smaller Green Packages
Will Ohio Real Estate accommodate First Time Buyers in 2015? A market crash, millennial buyers carrying too much student loan debt, unemployment, and host of other economic conditions held Ohio real estate back, but also markets in other states.
Smaller, greener Ohio homes for sale
Now, in a much healthier housing market, combined, these factors are most likely going to change what’s popular with buyers in 2015 and I think that first time buyers and second time buyers are going to be looking for specific features that are almost drastically different than previous trends.
HousingEcomonics.com recently published a report from a National Association of Home Builders survey of 3019 builders who were asked to rate questions from least likely to most likely back in 2010 through the next five years to 2015 and found some surprising results.
Prevailing New Home Trends 2015
In order to measure which of five broad trends would be more prevalent in the next five years, building professionals were asked to rank the following trends as simply least probable to most probable to occur by 2015:
- The average single-family home will get smaller – 74%
- The average home will have more green features – 68%
- Homes will have more technology features – 29%
- Homes will have more universal features – 20%
- Homes will have more outdoor living features. – 10%
As you can see, smaller homes with more green features topped the list of most probable by far. Personally, I’m stoked to see growing interests in greener, environmentally friendly homes. It also looks like the living room will be blending into other living areas and according to survey results, we may see the decline of the great room.
You might be surprised with some of the insights other survey questions revealed in the full article.
As far as smaller homes, I believe from what I see is millennials already have student loan debt, and perhaps a desire to keep property taxes down in addition to seeing this first home as a stepping stone and likely to have a smaller family in the beginning. I believe these buyers will come back soon after 2020 to “move on up” to a home with more square footage.
Per those surveyed, the bulk of new homes will be between 2,000 square feet and 2,399.
I definitely feel like the days of “super-size” it are gone, yes, I’m a California transplant. :)