The greatest shares of single-family homes with two or more stories are in the Northeast, Pacific, and Western regions of the U.S., according to a new analysis of Census Bureau data by the National Association of Home Builders.
Overall, a greater number of two or more story homes are completed than one-story homes – 58 percent compared to 42 percent.
The Northeast has the largest number of completed two or more two story homes in the nation, which may be due to pricier lot values there, NAHB notes.
“Median lot values in the New England and Middle Atlantic divisions far surpass lot values elsewhere in the country,” the NAHB notes on its Eye on Housing blog. “At the same time, higher density and land constraints may also have contributed to a higher proportion of two or more story homes across coastal divisions.”
The Midwest was the only region of the country where the majority of single-family homes completed were one-story homes, the NAHB notes.
Most home owners prefer a single-story home, A recent NAHB report found that 64 percent of all buyers surveyed said they preferred a single-story home. But researchers note the study’s survey pool was skewed mostly older. Older adults tend to prefer single-story homes, a separate study found. NAHB’s Housing Preferences of Boomer Generation study found that 75 percent of baby boomers and 88 percent of seniors say they want a single story, one-floor living home. However, fewer than half of millennials – 35 percent – and Generation X — 49 percent — say they prefer a one-story home.
Source: “The Number of Stories in Single-Family Homes Varies Across the Country,” National Association of Home Builders’ Eye on Housing Blog (Aug. 5, 2016)
“Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission”