Builders are on the path to complete more new apartments in 2020 than in the past 40 years. In that feat, they’re increasingly targeting the luxury sector for adding new apartments.About 371,000 new rental units are set to arrive across the country this year, a 50% increase over the number of new units that were completed last year, according to an analysis from RealPage. About 80% of that new supply is expected to come from luxury developments
A downsizing trend is occurring in new-home construction, with the declining number of bedrooms in newly built homes a solid sign of the change. The U.S. Census Bureau’s survey of construction data confirms that the number of bedrooms in the typical newly constructed single-family home is dropping.The number of new single-family homes that were started with four bedrooms or more dropped from 44.8% in 2017 to 43.5% in 2018, continuing a trend th
A back porch or deck, newly renovated kitchen, and hardwood flooring are among the top home features house hunters say they want most, according to a new survey by Porch.com, a home remodeling site. Further, buyers are willing to pay between $2,500 and $4,500 more for a home with these features, shows the survey of more than 980 recent home shoppers.Consumers are embracing outdoor space, as a back porch or deck was the feature Americans most want
Starting Jan. 1, all newly constructed homes and low-rise apartment buildings in California are required to have rooftop solar panels. The state is the first in the nation to carry such a mandate.The law also requires better insulation and air filtration for new homes. Some areas also are seeing mandates on the use of natural gas. For example, in the Bay Area, new homes in Berkeley, San Mateo, Menlo Park, San Jose, or Marin County will not be abl
Home interior looks are evolving, and even the open floor plan may be losing some of its long-lasting appeal. Design pros weighed in on a recent realtor.com® article on the home decorating trends that may lose some popularity heading into 2020. Here are a few of the trends that they say are falling by the wayside:The accent wallThe lone wall painted in one contrasting color is losing fans. Instead, ”it's time to boldly enter the new
More than 30% of homeowners say the floors are what they dislike most about their properties, according to a survey conducted by online loan marketplace LightStream. New flooring may even increase a home’s value, Dan DiClerico, an expert with HomeAdvisor, told realtor.com®. “Putting down new flooring is a smart investment,” DiClerico says. “But more importantly, it can dramatically transform the look and feel of the home, while making it
Off-trend may become the new trend in interior home design in the new year. Bigger, bolder statements are coming in favor over all-white or neutral interiors. Forbes.com recently interviewed interior and furniture designers to find out the hottest looks they expect to emerge over the next decade.Statement lighting. Lighting fixtures aren’t just for brightening a room; they also make a bold statement. You don’t need to add in extra wiring
More home shoppers purchased newly constructed homes in November, bringing new-home sales to their best three-month performance since 2007, the U.S. Commerce Department reported Monday. Economists credit low mortgage rates, low unemployment, and strong income growth for the sales uptick.Sales of new single-family homes increased 1.3% to an annualized pace of 719,000 in November. “Fueled by the limited number of resales available for purchase, l
More new-home construction is coming, and builders are increasingly confident about the direction of the market. Housing starts in November rose 3.2% to a seasonally adjusted annual rate of 1.37 million units, the U.S. Commerce Department reported Tuesday.Broken out, single-family home construction rose 2.4% year over year in November, while the multifamily sector, which includes apartments and condos, rose 4.9%.In the eye of a massive housing sh
Some homeowners are viewing the fireplace as more of a liability than an asset—and they’re opting to remove it. After all, there are an average of 22,300 fireplace, chimney, or chimney connector fires each year, according to the Consumer Product Safety Commission. Some owners are removing them because of those potential dangers, but others’ reasoning is more design-oriented—they don’t want a fireplace because it’s taking up too much s
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