New-home buyers responded to the tough times in 2009 by opting for smaller houses, driving down the average size of a house built in the U.S. for the first time in 27 years.
Data recently released by the National Association of Home Builders (NAHB) found the average size of a new home that was completed in 2009 fell to 2,480 squre feet from 2,520 squeare feet in 2008. The last time the average completed-home size fell by a statistically significant amount was in 1982.
Wile the small-house movement in the United States has been gaining steam for a number of years, the recession has accelerated it and home builders have responded.
Although actual square footage of homes did not fall until 2009, the percent of homes with four or more bedrooms in them has been falling since 2007, NAHB data show. And in 2009, the number of homes with three of more bathrooms fell for the first time since 1992.
Two other trends in home construction are contributing to the declining square footage: the prominence of first-time buyers in the housing market and the increasing number of households with members 55 and older who are buying homes.
Are you a buyer ready to make a move? Are you a first-time buyer or a buyer over 55 in Cardiff, Encinitas, or Carlsbad? Contact Marilyn Dashe at Sea Coast Exclusive Properties for advice.