living accommodations terms might still be high , but some pandemic cult are eventually fading .
David A Land | Prop Stylist : Raina Kattelson
It ’s been five years since pandemic confinement had us all sheltered in place , wear off masquerade , and keeping at least six feet away from each other at all time — and it ’s not an understatement to say pretty much everything has convert . U.S. homes trendshave attend a total transformation , from what sign of the zodiac betray for to how we spend our clip in them . As the day of remembrance approaching , Zillow eject a report to meditate on these housing shifts and evaluate if any are returning to their pre-2020 state .
Credit:David A Land | Prop Stylist: Raina Kattelson
As expect , home priorities evolve from desire stylish barn doors to needing more working backyard infinite — and the report render this still holds true . But some other pandemic - motivated modification did n’t have the same staying power . ( So longsighted , cloffice . ) Here ’s what the Zillow report found about what home means to Americans , half a decennary later .
How Has the Housing Market Changed?
In the last five years , U.S. housing prices have skyrocket , and that growth remains steady . Since 2020 , value are up more than 45 % , with sales event Price growing the most in Miami , Florida . This remarkable growth is usually what economists see in a decade .
To put that in context , the report arrogate there are approximately one million more $ 1 million+ house on the food market now compared to prior to the pandemic , with a lordly total of 1,650,000 . ( There were 989,000 in early 2020 . ) Those million - dollar homes are importantly smaller , too — on average 70 - straightforward feet less infinite and upwards of 1,000 square - pes smaller in some market .
“ A unadulterated cocktail of lower mortgage rate , higher delivery , and a growing desire for distance drove housing demand to new heights during the pandemic , ” said Zillow ’s senior economist Orphe Divounguy . “ Just about every major market experienced price growth far above what they ’d become accustomed to , resetting the financial bar for homeownership . ”
10 Cities With the Highest Home Value Increase
Since February 2020 , the average U.S. home value rose 45.3 % . Here ’s a look at the marketplace that experienced the most growth :
Popular and Not-So-Popular Home Trends
The Zillow account also looked at dwelling house purchasing vogue , like how you put up shop and what ’s on your must - have leaning ( veryLove It or List It ) . You may spend more money on a house now , but the means you shop for it looks very different .
“ While the financial hurdle is high , the home - shopping procedure has meliorate , ” Divounguy said . “ Virtual tools are serve buyer make more informed decision and cut the time they spend on in - someone tours . ”
Interestingly , private home base tours and multiple undefended business firm visit are still not as democratic because buyers can make more informed decisions based on advanced practical tours and floor plans . For instance , Zillow Showcaseoffers more insights and AI - powered feature of speech to help oneself buyers hone in on what they want .
Key Listing Features
We may never take our backyard space for give again after being hunkered down at menage for months on end . Zillow report that vendee are willing to give 2 % more for houses with outdoor kitchens , pizza pie ovens , orbluestone patio .
But our extra metre expend at place might be come near an close . Cloffices — aka bantam offices inside closets — are no longer as popular . The WFH trend declined to half its former visibility by 2023 . Also , people no longer normally search for or lean home with Zoom rooms , office sheds , orexercise wheel rooms .
