Post-pandemic, many Americans have adapted their homes to fit new needs—whether by sharing space with family, working remotely, or expanding outdoor living areas. With rising home prices and shifting priorities, a recent National Housing Survey® from Fannie Mae reveals that consumers now value their homes in ways that go beyond financial investment.
More Consumers Say Their Home Matters More Than Ever
For nearly half of Americans (44%), their home has become more important in recent years, compared to just 10% who say its importance has declined. A key driver? Sixty-three percent cite location as the top reason, followed by 59% who value the sense of security their home provides.
Affordability also plays a role—many homeowners who locked in low mortgage rates in 2021 might struggle to afford their current home in today’s high-interest market. 60% of mortgage borrowers and 47% of renters say being able to afford their home is a major factor in why they value it more.
Interestingly, 67% of consumers mention lifestyle benefits—like security, customization, and outdoor space—compared to just 34% who focus on financial benefits.
Homes Are Now Workplaces, Gyms, and Gardens
More than half of Americans have changed how they use their home:
- 25% have adapted their space for remote work
- 19% now use their home for fitness or hobbies
- 18% are gardening or growing food
These adjustments aren’t just about comfort—they’re saving money. Among those who made lifestyle changes, 44% say they now spend less on commuting, gym memberships, or other outside expenses. Additionally, 48% believe that home features like a large backyard or workspace have added value.
What Homebuyers Want in the Future
With evolving needs, Americans now prioritize features like:
- 69% want outdoor living space
- 61% desire an extra room for hobbies
- 60% would prefer a yard for gardening
While homeownership has long been seen as a lifestyle choice, financial considerations are gaining ground. In 2024, 46% of buyers cited financial benefits as the best reason to buy—up from 39% in 2015.
The Pandemic’s Lasting Impact
The pandemic fundamentally reshaped how Americans think about their homes. Remote work, flexible spaces, and security concerns have all contributed to rising home values and demand. As the market evolves, these shifting preferences will continue to influence housing trends for years to come.
The post Consumers Are Placing Greater Value on Their Homes first appeared on The MortgagePoint.
