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Single-family home spaciousness and COVID-19

Author

Listed:
  • Keith Ihlanfeldt

    (Florida State University)

  • Cynthia Fan Yang

    (Florida State University)

Abstract

While a spacious single-family home may be the American Dream, this choice of living may contribute to global warming, residential segregation, and jurisdictional property tax disparities. Thus, there is interest in how the demand for spaciousness is changing over time. National surveys have revealed that COVID-19 shifted homebuyer preferences in favor of larger homes and lots. The issue addressed in this paper is whether these stated preferences have actually impacted the market value attached to these attributes in the housing market. We estimate hedonic price models using hundreds of thousands of single-family home sales from the ten largest metropolitan areas in Florida. Models include home and lot size interacted with years before and after COVID, along with time-varying neighborhood fixed effects and other home attributes. Results show large percentage increases in the marginal willingness to pay for interior and exterior space after COVID, continuing through 2023.

Suggested Citation

  • Keith Ihlanfeldt & Cynthia Fan Yang, 2025. "Single-family home spaciousness and COVID-19," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 74(1), pages 1-29, March.
    • Handle: RePEc:spr:anresc:v:74:y:2025:i:1:d:10.1007_s00168-025-01356-8
    DOI: 10.1007/s00168-025-01356-8
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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