The National Association of REALTORS® reported December 18, 2023 on the trends set to take hold in the industry this year. From ecosystem conservation to “new” darker neutrals in exterior paint, the following 5 trends are worth considering since they can positively influence whether home shoppers become homeowners.
Trend 1: Sustainability
NAR reports Homeowners want to be active but decrease maintenance and energy consumption. They favor sustainable materials sourced locally to pare carbon footprints and support local businesses. Sustainability received a boost in January 2023, when the Department of Energy announced federally backed incentives to help builders make DOE-certified Zero Energy Ready Homes their standard. An example of a builder focused on both energy efficiency and lower construction waste is Netze Homes, based outside Dallas, which uses steel that it recycles from cars. It claims its houses are 20 times stronger than those built from wood. Since the frame is built in a factory to exacting specifications, the homes are tighter and the resulting lower air exchange makes them more efficient.
Trend 2: Smaller Single-Family Homes and More Townhomes
NAR noted that, homes are currently shrinking in size, with the median for single-family houses at 2,261 square feet and the mean square footage of new single-family homes down to 2,469, according to the National Association of Home Builders. The main reasons for smaller single-family homes are high mortgage rates and lifestyle changes that favor fewer bedrooms.
Trend 3: A Continued Focus on the Kitchen
NAR confirms the kitchen remains the heart of the house with old trends in force along with new ones gaining traction, says designer Mick De Giulio of de Giulio Kitchen Design outside Chicago.
In most cases, the kitchen is one of the most used, most seen rooms in a home. People are still eager to congregate in the kitchen, and within the space, certain trends stand out. A kitchen redo makes sense since, if it’s done well, it can last 30 years, though appliances may need to be replaced along the way, De Giulio says.
Trend 4: Natural, Native Landscaping as a Priority
Whether in communities or private backyards, NAR found that homeowners want to conserve ecosystems. In smaller communities, “agrihoods” such as Harvest Green are growing in popularity. Such communities bring together features that reflect homeowner interest in conservation. Likewise, homeowners are aware of their impact on their environment and the need to protect wildlife. Likewise, homeowners are aware of their impact on their environment and the need to protect wildlife.
Trend 5: “New” Neutrals for the Exterior
Neutral colors are more popular, residential and commercial color consultant Amy Wax in Montclair, N.J. told NAR:
“They are a safe choice, offer the opportunity to decorate a home with more emphasis on landscaping, give homeowners the chance to market their home without having to repaint and are not the subdued hues of the past,” she says.
Many neutrals are even darker, such as midnight blue, charcoal gray and true black for drama. Dark exterior accents express confidence with a bold street presence. Adding a periwinkle blue front door or taxicab yellow or hot pink accent is fair game. Durability should be weighed since darker colors may fade, so it’s best to apply paint with a subtle sheen to protect surfaces.
Bottom Line
NAR reports on these trends because staying abreast of what’s new and innovative in design and real estate is important-- not to be trendy but to learn about innovative materials, systems and products to live more sustainably and benefit the planet. Also, new uses for rooms can maximize square footage and our surroundings to add joy to our lives.