Madison, WI — As the home building industry celebrates New Homes Month in April, new research shows a majority (60 percent) of home buyers prefer a new home to an existing one, the highest level since 2007.
The recent study, “What Home Buyers Really Want,” conducted by the National Association of Home Builders (NAHB), is based on a survey of recent and prospective home buyers across the country.
Builders reported that while the average home size (2,486 square feet) remained flat in 2020, the number of bedrooms and bathrooms will likely increase in 2021, with home buyer preferences shifting in the wake of COVID-19 pandemic.
“With the times we are in, people are truly reevaluating the function of their homes. People have been leaving their homes less and want a space designed that fits their exact need,” said Tonia Crary, Interior Designer and Client Coordinator at Crary Construction, a 2021 Parade of Homes Builder.
The top features that a majority of buyers want is a laundry room and exterior lighting, according to the survey. Energy-efficient features like ENERGY STAR rated windows and appliances, ceiling fans and a patio for entertaining are also at the top of buyers’ wish lists.
“Today’s new homes offer the type of features that buyers are seeking in the wake of the pandemic, from reducing energy consumption to more outdoor space.” said Chad Lawler, Executive Director, Madison Area Builders Association.
The 2021 Madison Area Parade of Homes will feature 40 newly built homes in over a dozen Dane County communities. The homes will be open daily June 18-27th and allows consumers to view cutting-edge design trends, such as bold-colored cabinets, enhanced luxury vinyl flooring options, dark exterior color choices, pocket offices and more.
To learn about homeownership opportunities and trends in the Madison area, contact Chad Lawler, Executive Director of the Madison Area Builders Association at (608) 288-1135 or [email protected]