A majority of millennial home buyers would choose a smaller home if it offered better amenities, according to a new report from National Association of Home Builders.
Although millennials prefer homes with a median of 2,408 square feet, more space than any other generation, they value quality the most.
NAHB’s research found that 52% of millennial home buyers would choose to purchase a smaller house with higher-quality products and amenities over a bigger home without the special features.
“Buyers are willing to make compromises to find the best possible home for their families,” said NAHB Chairman Buddy Hughes, a home builder and developer from Lexington, N.C.
The preference may be driving home construction trends. Data from the U.S. Census Bureau showed that the median home size dropped from 2,200 square feet in 2023 to 2,150 square feet in 2024. That’s the lowest median size in 15 years.
“Our nation’s builders are willing to meet buyers where they are and construct a high-quality home to meet their family’s needs,” Hughes added.