The desirability of new homes continues to grow. Faced with the alternative of choosing between an existing home and a newly built home, 61% of home buyers in a recent NAHB study* indicated a new home is their first preference. That marks the highest share of buyers leaning toward a new home since 2007, when…
A new quarterly Cost of Housing Index (CHI) highlights the burden that housing costs represent for middle and low-income families. In its inaugural release for the first quarter of 2024, CHI revealed that a typical family in the U.S. must spend 38% of its income to cover the mortgage payment on a median priced new…
High mortgage rates and double-digit growth in home prices since COVID-19 have brought housing affordability to its lowest level in more than a decade. Given this reality, a recent NAHB study on housing preferences* asked home buyers about which specific compromises they would be willing to make to achieve homeownership. For 39% of buyers, accepting…
NAHB’s latest study on consumer preferences—What Home Buyers Really Want Study*— asked about the features and amenities buyers want in the home, but also about the type of community where they would like to live. The question is important because the home that successfully appeals to buyers doesn’t exist in a vacuum—it sits inside a…
A recent NAHB study on home buyer preferences* found that a single-family detached home remains the first purchase option for two of every three buyers. Far smaller shares are looking to buy a townhome (16%), a multifamily home (10%), or a manufactured home (5%). In the face of such strong preference for a detached home,…
According to the latest What Home Buyers Really Want Study*, the vast majority of home buyers are looking for a home with at least one home office (or space dedicated to work/study). More specifically, 66% would prefer to buy a home with exactly one home office, 13% want at least two offices, and 20% want…
According to the latest What Home Buyers Really Want Study*, home buyers have rather diverse preferences when it comes to the architectural style of their home. In fact, there is no national consensus on exterior design. At best, a plurality of 34% would prefer to purchase a ‘traditional’ home (rooted in historic styles), while a…
