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Piedmont Real Estate Blog

Bigger Houses Still the Rule

Aug. 27, 2012
Categorized in: Buyers

Marketplace's Planet Money has an interesting graph showing that houses being built now are still surprisingly large. 

While it's true that you've been seeing articles saying home sizes are shrinking. And, that's true compared to, say 10 years ago. But if you look back, even to the 90s we're still living in enormous homes. 

My hunch is that the size keeps shrinking.

What's your hunch?

Smaller Houses

Nov. 22, 2009
Categorized in: Buyers

There's more and more data to support what I've been seeing with my clients for several years. The pool of people interested in McMansions is rapidly shrinking. Overall, homebuyers are opting for smaller, more efficient homes.

As this article in the San Francisco Chronicle says the average home size is shrinking.

From a recent Wall Street Journal article:

"More often than not, builders say, post-crash buyers of new homes want smaller and simpler. The average new single-family house peaked at 2,507 square feet in 2007 and has since slipped to 2,392 square feet, according to Census Bureau data."

I believe that trend had already started before the recession as the next generation of home buyers a more urban lifestyle w/more experiences and fewer posessions. Will that change as their kids get older, as it has with previous generations? My hunch is that there will always be families who make that choice of the large house in the further suburbs. But I see it as a shrinking demographic. I think the future of energy prices will likely reinforce the tendencies that we already see in the younger generation to forego the McMansions.

But ask me 10 years from now when this recession is a distant memory and we'll see if I'm right!

 

Piedmont Real Estate Blog

Blog by Julie Emery
Amissville, Virginia

An ongoing dialog on real estate news, opinion and trends in Northern Virginia and the greater Piedmont area. Julie is an Associate Broker at Frankly Real Estate Inc, 6304 Crossroads Circle, Ste 102, Falls Church, VA 22044

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