Jan 24, 2024 - News

Home construction trends to watch in 2024

Animated illustration of a real estate sign with the year 2023 on it flipping over to reveal the year 2024.

Illustration: Brendan Lynch/Axios

We chatted with Rachel Flint, a senior VP at Hubbell Realty, on what we can expect locally this year in home construction.

3 takeaways for the DSM metro

1. Norwalk's booming construction

  • The most popular cities for homebuilding in 2023 were Ankeny, Waukee and Norwalk, Flint says. Expect that to continue in 2024.
  • Norwalk's available land for development is helping it move up and be "neck and neck" with West Des Moines, she says.
  • There were 115 active new homes on the market and 75 pending/closed in the last 180 days in Norwalk, according to MLS data.

2. Single-family demand continues

  • People are still wanting their own backyards and a little bit of space from their neighbors after the pandemic.
  • "They need room for the dog to roam," Flint says.

3. Lowering home prices

  • National home development company D.R. Horton is a fast-emerging presence in the Des Moines metro, building and selling 600 homes in the last year.
  • It was able to quickly lower its home prices last year thanks to the size of the company, Flint says.
  • That's led to local developers like Hubbell to redesign some of their new homes to lower their prices.

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