Huge Gains in Housing Starts From October 2021 to November 2021

 The U.S.Department of Housing and Urban Development and the U.S. Census Bureau reported an 11.8% rise month-over-month to a seasonally adjusted rate of 1.68 million units from October 2021 to November 2021. The increase showed a double-digit gain caused by the low housing inventory and rising builder confidence. Single-family homes saw an increase of 11.3% to 1.17 million units and multifamily new construction saw an increase of 12.9% to 506,000 units.

“Breaking an eight-year trend, in recent months there have been more single-family homes under construction than multifamily units,” National Association of Home Builders chief economist Robert Dietz said in a statement. “Moreover, despite some cooling earlier this year, the continued strength of single-family construction in 2021 means there are now 28% more single-family homes under construction than a year ago. These gains mean single-family completions will increase in 2022, bringing more inventory to market despite a 19% year-over-year rise in construction material costs and longer construction times.”

"Mirroring gains in the HMI reading of builder sentiment, single-family housing starts accelerated near the end of 2021 and are up 15.2% year-to-date as demand for new construction remains strong due to a lean inventory of resale housing,” Chuck Fowke the chairman of the NAHB said in a statement.

“The bottom line is we need more homes and it will take time to reduce the housing stock ‘debt’ in the face of growing demand,” First American deputy chief economist Odeta Kushi said in a statement. “But today’s housing starts report, in combination with a positive builder’s sentiment report, sends an optimistic message about the housing market as we enter 2022.”

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COVID-19 Has Changed the Way Builders Regard Floor Plans

 

The COVID-19 global pandemic has put a spin on the way people look at their home’s space.  The stay-at-home-orders shifted a home’s space to serve more purposes than ever before. Before the pandemic, home was a place where we returned from work, school and any daily activities but now it has become the place where we work, go to school and live out our days. Builders have now changed the way they are designing homes to incorporate these changes into the floor plans. Here are five ways home designs are changing.

Every room needs to serve multiple purposes

Working from home or remote learning demands a quiet space. According to Jennifer Pyatt of Indianapolis-based Pyatt Builders, she is seeing the use of barn or pocket sliding doors.  This feature allows for privacy in an open concept floor plan where space is still needed. Zillow design expert Kerrie Kelly believes that the whole home will be used in multi-purpose ways such as a guest room turned into a wellness studio or a dining room becoming a game room.

No home office? No thanks

If you work from home and are a parent this can be really challenging.  Parents need a dedicated space for work that is separate from their children. Zillow did a survey that revealed that two-thirds of those surveyed are working from home from an area that is not a dedicated home office space and a dedicated space is on the top of their wish list.

Designing for health and cleanliness

Now more than ever everyone is conscious of germs because of the spread of COVID-19. As of now, builders are integrating touchless faucets and self-cleaning toilets into their building plans but this is just the tip of the iceberg. “Just wait until the floor tile takes your temperature and the bathroom mirror checks your vitals,”  says Kelly.

Builders are already coming up with ways to build mudrooms with sinks off the garages so that before anyone enters they can get clean.  Other ways are by building more en suite bathrooms, using easy-clean flooring and building larger foyers for space to take off shoes before entering the home. Air quality is also a must: “Air cleaned by a UV light system in the HVAC can help minimize the risk of spreading germs,” notes Joe Klusnick, marketing director at Blue Mountain Communities in Northern California.

Yards need to be useable year-round

The previous year has been tough with having to stay at home 24/7.  Getting outdoors and enjoying nature is a great way to improve wellness. A good way to go about this is to turn part of your backyard into a functional room. Building an outdoor kitchen, a covered patio or a play area are all great ways to use your outdoor space for play, entertaining and cooking. Todd Pyatt, President of Pyatt Homes, agrees. “Motorized, retractable screens, heaters and fans, now considered luxury options, will become more essential because they allow families the freedom to be outside across the seasons.”

When everything happens at home, there’s more to store

Everyone staying at home has caused more of a footprint.  When you are eating every meal at home, your pantry space becomes a bigger issue. Builders are incorporating larger pantries in new homes. Closets can now serve as multi-purposes throughout the day. They can work as a home office, gym and even a classroom.

To make sure you find the right home that fits your wish list for a fair price, contact a Realtor in your area.

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