[Infographic] RESIDENTIAL CONSTRUCTION STATS & TRENDS FOR 2021
Single-family detached residential construction is looking up these days.
According to the Census Bureau, December permits were up 17% year over year. We haven't seen those numbers since 2006.
As demand for single-family residential housing surges, suppliers, builders, developers and investors are eyeing single-family construction as their next growth lever.
What are the top trends in residential construction?
Let's take a look at what's trending in residential construction housing design tastes, new building materials and building techniques.
HOME SIZE IS INCREASING
Data shows there is a slight increase in preference in the size of new homes to allow for:
- Offices
- Gyms
- Leisure space
- WFH (work from home space)
BUILT-TO-RENT HOME CONSTRUCTION
One of the hottest trends we're tracking this year is the built-to-rent category.
There has never been higher demand for single-family detached housing.
Still, the prospect of a mortgage for singles, new families and free-spirited empty-nesters can be a dreamcrusher.
Single-family rentals create a win-win by removing some of the risk for developers. And while home rentals are no new thing, building whole single-family subdivisions for rent is.
About 16 million rental properties today are single-family homes, and another 13 million rental households are expected to be formed by 2030, according to the Urban Institute.
WHAT DO HOMEOWNERS WANT IN 2021?
- 91% of homeowners want a laundry room
- 89% want energy efficient windows
- 87% want a patio/outdoor living area
- 85% want garage storage space
- 83% want a walk-in pantry
NEW BUILDING MATERIALS COME TO THE FOREFRONT
The rise of new building materials is particularly interesting as the Biden administration has stressed addressing climate change as a priority.
Just as solar has been mandated for new home construction in California, we could see the rest of the country follow suit, or at the very least mandate greener building products.
Look for materials like environmentally-friendly wool bricks and roads made from recycled tires and construction rubble to enter the mainstream.
OUTDOOR SPACE IS PRIZED MORE THAN EVER
Kids like yards and parents like peace and quiet.
Parents and soon-to-be parents and are prioritizing outdoor space as they look to avoid COVID-friendlier condos with elevators and common areas.
And since adults like to play too, space for a new deck, barbecue or swimming pool are not out of the question as the pandemic persists and families look toward at-home entertainment options.
GET A CLOSER LOOK
You can do more than read about these trends. See them playing out in real life with a subscription to SingleFamilyData from BuildCentral.
Track new single-family subdivisions, built-for-rent communities, age-restricted developments and more.
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