Homebuyer Buzz: Home Design is Shifting in a Postvirus World
April 30, 2020
Homebuyer Buzz is our monthly round-up of news stories related to the latest in homebuying trends — from the evolving wants of homebuyers to design news and more.
In April, it became clear that industries related to residential construction are looking at how to innovate their offerings, and housing, in a postvirus world — from changing how homes are designed to what amenities will grow in popularity. We’re also looking at how the virus is influencing city living, and if it will spur millennials into buying a home.
Expect apartment amenities to shift post-COVID 19. One multifamily insider believes the desire for bigger and better apartment amenities will continue, but COVID-19 is reshaping what that’ll look like. Expect less open, shared-space floor plans and more clubhouses with smaller, separate rooms, as well as better equipped business centers and an expectation for top-notch WiFi. [GlobeSt.com]
COVID-19 is changing home design with a focus on cleanliness. In a postvirus world, designers also anticipate that home design will change in some crucial ways. According to Realtor.com, the top ten features to look for in a new home include more bathrooms, better mudrooms, more freezer space and more sophisticated HVAC systems. [Realtor.com]
Millennials could be feeling the desire for homeownership. While millennials are often discussed as craving mobility in their lifestyles, the current health crisis could be spurring them to look for stability in homeownership. Kristin Messerli also writes how people could be looking to upgrade their spaces after spending so much time in them during stay-at-home orders. [HousingWire]
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Demographic trends show movement from big cities, but future is unclear. Before the virus, trends already showed city dwellers moving to the suburbs, leading to questions about whether the pandemic will further drive people out. The New York Times writes that it’s still too early to determine if a desire to move will abate once the health threat lessens, or if the pandemic will lead to even more exits. [The New York Times]
Home listing traffic has spiked. Though homebuyer traffic to new and existing homes for sale is down, online traffic to home listings has spiked according to Zillow, showing there’s still consumer interest. By mid-April, Zillow said overall visits to their site were higher than they were a year ago — particularly in Los Angeles, Houston, Dallas and Atlanta. [HousingWire]
First-time homebuyers want a laundry room. According to findings presented at the 2020 International Builders’ Show, first-time buyers place laundry rooms, hardwood flooring and ENERGY STAR windows at the top of their home wish lists. Most first-time buyers also prefer a single-family detached home, with 59 percent looking for places in the suburbs. [NAHB Now]