DOWNSIZING GOOD OR BAD

DOWNSIZING GOOD OR BAD

Is the Downsizing Trend Fading?

Daily Real Estate News | Tuesday, February 21, 2012

Homes are getting bigger again. Census Bureau data shows that 2011 home starts were bigger with more features and amenities than those built in 2010.

According to the data, the average new-home size grew from 2,381 square feet in 2010 to 2,522 square feet in 2011. Forty-two percent of the new homes had four or more bedrooms, and 28 percent of the new homes had three or more full bathrooms.

However, housing experts are quick to point out that home construction last year saw its worst year on record, so the characteristics of new homes from last year is being pulled from a much smaller pool of homes than previous years.

Also, the average sales price for a new home also increased last year, going from $264,900 in 2010 to $274,400 in 2011.

Source: “Size Matters: Newly Constructed Home Trends in 2011,” RISMedia (Feb. 16, 2012)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s