Interesting Size Changes in the Single Family Home

According to a recent Metrostudy Analysis, the size of the traditional single-family home shrunk over the past few years but is currently again on the rise. Why? One theory is that the $8000 first time homebuyer tax credit offered in 2009 and 2010 increased demand for entry-level homes and builders responded by creating smaller, more affordable dwellings. Of course, once the tax credit expired, these entry-level folks moved once again to the sidelines, replaced by empty nesters and move-up families. While the former typically seek smaller homes, the latter are more inclined to go for bigger. Move-up families are considered the largest buying segment in the population, and recent data confirms that home size is again increasing in response to their needs. While not a dramatic increase yet, we expect the acceleration to continue, as we get further away from the great recession.

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2017-08-29T17:44:36+00:00 June 18th, 2012|Uncategorized|