Buyers More Flexible on Commute Than Home Size
Most consumers are willing to extend their commutes in order to find a single-family home with a yard, according to a new Redfin survey of 1,400 consumers. Eighty-nine percent of survey respondents say they would choose a single-family home with a backyard over a unit in a triplex, even if the latter was closer to their job. For millennials, that figure is 93%, the study shows.
Though buyers overall show a preference for single-family homes, the properties needn’t be large. The median home size in the U.S. has been dropping, perhaps due in part to higher home prices, researchers note. Median home size peaked at 2,467 square feet in 2015 but lowered to 2,386 square feet in 2018.
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