The following U.S. Census Bureau statistics confirm what the housing industry has suspected for a while. It says that the average size of a home in the third quarter of 2008 was about 2,438 square feet. This is down from 2,629 square feet during the second quarter. The median size of homes started in the third quarter was 2,090 square feet, down from 2,291. Does this mean the era of big homes may be on the way out? Apparently people are seeking a home that is the right-size, organized and economized.
What’s more, according to the National Association of Home Builders (NAHB), 88 percent of their members said they are planning to build a larger share of smaller homes this year. The NAHB also said that 89 percent of their builder members also said they are planning on building more lower-priced models of homes.
Better Homes and Gardens also conducted a study and found that the top priorities among homeowners regarding a new home were – number one affordable price, then natural light, and last comfortable family gathering places. The publication’s survey also uncovered other consumer housing trends – that they actually do not need as many luxuries in their next home, for instance. In fact 20 percent or more of the participants looked at upgraded landscaping, finished granite countertops, and lux master bedroom suites as less important features. Ironically, although 62 percent of new homes that were completed in 1991 had at least one fireplace, fireplaces and high ceilings in the living areas were tagged as less important to 35 percent of those surveyed.
It would appear that most homeowners want to make the most of the space they do have these days, and while homes are getting smaller people family rooms that are flexible enough to accommodate a variety of family activities, from fitness, to TV and movies, to music and games. Outdoor kitchens and entertaining areas are also rising in popularity.
