When the real estate market is moving as quickly as ours has for the past couple years, and when inventory is as tight as it’s been (across the country, not just here), you might think homebuyers would have to sacrifice some of their wish-list items in order to get in a home that works for them — even if it’s not perfect.
That may be happening in some situations, but there are two home features that many home buyers don’t seem willing to give up on.
Homebuyers Are Not Giving Up Their Patios
Patios are very high on the radar for buyers. While new neighborhoods often feature community areas with common amenities, private outdoor spaces are quite desirable, too. According to The National Association of Home Builders (NAHB), patios are more popular than ever on newly-built homes.
“Of the roughly 876,000 single-family homes started in 2018, 59.4% came with patios…. This is the highest the number has been since NAHB began tracking the series in 2005.”
As you can see below, the number of new homes built with patios has been increasing for the past 9 years.
It’s not just a patio that home buyers and owners are looking for.
Homebuyers Are Not Giving Up Their Garages
This is also according to the NAHB, which recently published data showing the percentage of new single-family homes completed in 2018 with garages:
- 64% of new homes offer a 2-car garage
- 21% have a garage large enough to hold 3 or more cars
- 7% have a 1-car garage
- 7% do not include a garage or carport
- 1% have a carport
Interestingly, garage size is somewhat dependent on geography. Two-car garages are more popular out west (Washington, Oregon, California, Alaska and Hawaii) than anywhere else. In the midwest — “West North Central” on the map below — almost half of garages have space for three cars. The following map represents this breakdown by region:
What It Means To You
No matter the condition of the real estate market, homebuyers are looking for garage space and outdoor patio living. If you’re a homeowner thinking of selling a house with these amenities, it appears buyers are willing to spring for those key features. If you have questions about the current value and demand for your home, get in touch with us below.