Is your home shrinking?
In 2007 at the height of the housing illusion the average US home was approximately 2300 feet.
That is actually bigger then many surveys had consumers reporting what they thought the ideal size of a home was. The survey showed 2,000 feet to be ideal.
The average was about 15% larger as you can see. Notice how I said "was"...
The average new home today is now closer to the American "ideal" of 2,000 sq feet. Today the average new home is just a hair over 2,100 square feet. This is about 8% - 9% smaller then levels recorded at the height of the housing crisis.
This is most likely due to the markets demand for cheaper homes. That or builders are just trying to cut corners and increase margins.
Either way, I think this drop will make it easier and cheaper for new home buyers to obtain the financing they need to get a new home.
This information was found in a article from the USA Today newspaper.
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