Among the trends highlighted at the International Builders’ Show, more Americans are saying goodbye to McMansions and are buying 'right-sized' homes instead. There’s also high interest in green elements, organization, fewer luxuries and These days, a bigger home isn't always a better one: Recent research suggests that homes being built today are getting smaller.
The average size of homes started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet in the second quarter, according to the U.S. Census Bureau. Similarly, the median size of homes started in the third quarter was 2,090 square feet, down from 2,291. The statistics confirm what the housing industry has suspected for a while.
"We've been hearing for a long time 'Why is the home size not declining?'" said Gopal Ahluwalia, vice president of economic research for the National Association of Home Builders. He spoke about the trend at the International Builders’ Show in Las Vegas this week. Anecdotally, he had heard smaller homes were being built as housing prices tumbled and the economy began to weaken. Still, "we never had data to back it up," he said.practical appliances
The average size of homes started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet in the second quarter, according to the U.S. Census Bureau. Similarly, the median size of homes started in the third quarter was 2,090 square feet, down from 2,291. The statistics confirm what the housing industry has suspected for a while.
"We've been hearing for a long time 'Why is the home size not declining?'" said Gopal Ahluwalia, vice president of economic research for the National Association of Home Builders. He spoke about the trend at the International Builders’ Show in Las Vegas this week. Anecdotally, he had heard smaller homes were being built as housing prices tumbled and the economy began to weaken. Still, "we never had data to back it up," he said.practical appliances
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