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According to the Home Design Trends Survey by the American Institute of Architects, the economic downturn in the housing market, along with concerns about rising utility costs, resulted in smaller homes and lot sizes for the first quarter of 2010.
Lifestyle changes and accessibility concerns for U.S. households led to an increase in demand for more flexible design and informal space within homes. Business conditions for residential architects indicated improvement in the residential housing sector, which saw the first quarterly increase in billings since mid-2007.
“These are the first encouraging signs in over two years that an economic recovery for the beleaguered housing market is near. The home improvement market, including both additions and structural alterations as well as remodeling projects, continues to be the healthiest sector of the market,” said AIA Chief Economist Kermit Baker.
The AIA Home Design Survey Index for the first quarter of 2010 indicated the percentage of respondents reporting improvements minus the percentage reporting weakening conditions. The scores for the specific residential segments were: kitchen and bath remodeling, 41; additions / alterations, 37; first-time buyer / affordable home market, -11; move-up home market, -23; custom / luxury home market, -27; townhouse / condo market, -39; and second / vacation home market, -57.
The AIA Home Design Trends Survey is conducted quarterly with a panel of 500 architecture firms that practice in the residential sector of the housing market.