Single-Story Homes Are Being Rediscovered
Single-Story Homes Are Being Rediscovered
Single-Story Homes Are Being Rediscovered
That single-story home may be more desirable than it once was. The construction of single-story homes is increasing at a more rapid pace than two-story homes, according to new data from the U.S. Census Bureau.
While overall the share of starts of homes of two-plus stories was higher than single-story homes in 2018, the two-story percentage is shrinking while one-story construction is growing. The share of new homes started with two or more stories dropped from 55% in 2017 to 53% in 2018. However, the share of new homes with a single-story increased from 45% to 47%, the data shows.
The growth of single-story homes was most pronounced in the South, the National Association of Home Builders’ analysis of the data shows.
A separate report from the real estate brokerage Redfin showed single-story or ranch homes were the most popular home style of home sold last year. The style also tended to be more affordable, they noted.
The preference of a single-story home rises with age, a recent survey of home buyers by the NAHB shows. Eighty percent of baby boomers say they prefer a single-story home so that they can more easily age in place. However, only 35% of millennials say they want a single-story home.
“Homes with one story are more common in non-metro areas, while two or more stories homes are common in metro areas,” the NAHB notes on its blog, Eye on Housing. “However, we experienced an increasing share of one-story homes in both metro and non-metro areas from 2017 to 2018.”
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