The American Institute of Architects’ quarterly home trends survey reports a notable increase in work for the entry-level housing sector, and a corresponding slight drop in square footage for housing overall. However the custom home and high-end remodeling markets remain in a solid growth pattern with regard to house size. Read the AIA’s full release below, and the infographics at the bottom of the page for the full report.
For immediate release from the American Institute of Architects:
Washington, D.C. – June 12, 2017 – After several years of increasing demand for larger homes and lots, homeowners interest in extra square footage is waning. Additionally, homeowners continue to express a high level of interest in features that will allow them to stay in their home even with limited mobility. These findings are from the American Institute of Architects (AIA) Home Design Trends Survey for the first quarter of 2017, which focuses specifically on home and property design and the use of interior and exterior space.
All of the data can be accessed through this infographic [also shown at the bottom of this release].
“With younger households that are increasingly entering the market looking for more affordable options, home sizes appear to have peaked for this economic cycle,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “For aging owners, accessibility continues to be a high priority.”
% OF FIRMS REPORTING “INCREASING” ACTIVITY FOR THAT CHARACTERISTIC; Q1 2017
Baker added, “As building lots continue to be smaller and scarcer, lot preparation with the goal of maximizing livable outdoor space tops the list of property enhancement desires.”
Outdoor living and landscaping trends
% OF FIRMS REPORTING “INCREASING” ACTIVITY FOR THAT CHARACTERISTIC; Q1 2017
Housing market business conditions AIA Home Design Survey Index for Q1 2017 (any score above 50 is positive)
- Billings: 63
- Inquiries for new projects: 71
“Billings and inquiries at residential firms are nearing a two-year high in terms of the pace of growth,” said Baker. “Those factors, along with a sizable jump in demand with first-time home buyers is a signal the custom residential housing market will be stable for the foreseeable future.”
% OF RESPONDENTS REPORTING SECTOR “IMPROVING” MINUS % REPORTING “WEAKENING”; Q1 2017
About the AIA Home Design Trends Survey
The AIA Home Design Trend Survey is conducted quarterly with a panel of more than 500 architecture firms that concentrate their practice in the residential sector. Residential architects are design leaders in shaping how homes function, look, and integrate into communities and this survey helps to identify emerging trends in the housing marketplace. Business conditions are also monitored on a quarterly basis. Future surveys will focus on specialty rooms and systems (September 2017), community design trends (December 2017) and kitchen and bath trends (February 2018).