Smaller homes, open floor plans and multifunctional rooms continue to be top trends in consumer housing preferences.  In the latest studies conducted by the National Association of Home Builders and Better Homes and Gardens, revealed at the International Builders Show in Orlando, results showed that attitudes have changed, households are getting smaller and people over 55 are accounting for more than 25% of the households in America.

Builders are responding to the demand for smaller homes.  In 2010, one and two person households accounted for 63% of all households and for the very first time, married couples represented less than half, while unrelated adults living together increased by 6.2%.  When asked, 52% of builders indicated that they will be building smaller homes in 2011 and 3/4 of the builders polled also indicated that they believe homes will continue to shrink.  They are predicting that by 2015, the average size of homes will settle in around 2,152 square feet.

More one story houses, combined living rooms and larger family rooms top the interior trends.  30% of builders surveyed think that formal living rooms could disappear altogether.   Buyers on the Better Homes and Gardens survey prioritized features as follows: efficient HVAC systems and appliances; patios and decks; low-maintenance exteriors; and private backyards.  As for living spaces, separate laundry, office and storage rooms are most coveted.

However, buyers also indicated that they are taking a lot longer researching projects and purchases and 58.4% indicated that they were “extremely reluctant” to spend money that they don’t have.  ”The sense of entitlement that people used to feel about having everything they wanted in their homes is being replaced by a sense of gratitude for things they already have,” stated Jill Waage, editorial director of Better Homes & Gardens Home Content Core.