Trends Toward Extremes in New Home Sizes Reflect the Economic Realities of U.S. Buyers
Trends Toward Extremes in New Home Sizes Reflect the Economic Realities of U.S. Buyers
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A Wall Street Journal blog this week expounded on the fact that the size of new homes sold in the United States just hit its largest median EVER: 2,415 square feet. But the writers quickly add that this figure may be short-lived—a blip in the market as we transition to the age of the millennial, the first-time, middle class buyer, who is expected to boost the market for smaller, first-time homes.
As someone who's covered both of these "trends," I don't find anything surprising about the coexistence of two "extremes" of home sizes in our current economic situation. Read More ...
A WALL STREET JOURNAL BLOG this week expounded on the fact that the size of new homes sold in the U.S, just hit its largest median EVER: 2,415 square feet. But the writers quickly add that this figure may be short-lived--a blip in the market as we transition to the age of the millennial, the first-time, middle class buyer, who is expected to boost the market for smaller, first-time homes.
As someone who's covered both of these "trends," I don't find anything surprising about the coexistence of two "extremes" of home sizes in our current economic situation. If you look closely at who's actually buying new homes now (an NAR report that just came out also breaks this down), you see that it's the lucky few: older, mostly married couples who are still buying homes. Take a look at this home price chart from the WSJ:
- See more at: http://www.greenbuildermedia.com/blog/trends-toward-extremes-both-large-and-small-in-new-home-sizes-reflect-the-economic-realities-of-u.s.-buyers#sthash.J2iT0JPy.dpuf
A WALL STREET JOURNAL BLOG this week expounded on the fact that the size of new homes sold in the U.S, just hit its largest median EVER: 2,415 square feet. But the writers quickly add that this figure may be short-lived--a blip in the market as we transition to the age of the millennial, the first-time, middle class buyer, who is expected to boost the market for smaller, first-time homes.
As someone who's covered both of these "trends," I don't find anything surprising about the coexistence of two "extremes" of home sizes in our current economic situation. If you look closely at who's actually buying new homes now (an NAR report that just came out also breaks this down), you see that it's the lucky few: older, mostly married couples who are still buying homes. Take a look at this home price chart from the WSJ:
- See more at: http://www.greenbuildermedia.com/blog/trends-toward-extremes-both-large-and-small-in-new-home-sizes-reflect-the-economic-realities-of-u.s.-buyers#sthash.J2iT0JPy.dpuf
A WALL STREET JOURNAL BLOG this week expounded on the fact that the size of new homes sold in the U.S, just hit its largest median EVER: 2,415 square feet. But the writers quickly add that this figure may be short-lived--a blip in the market as we transition to the age of the millennial, the first-time, middle class buyer, who is expected to boost the market for smaller, first-time homes.
As someone who's covered both of these "trends," I don't find anything surprising about the coexistence of two "extremes" of home sizes in our current economic situation. If you look closely at who's actually buying new homes now (an NAR report that just came out also breaks this down), you see that it's the lucky few: older, mostly married couples who are still buying homes. Take a look at this home price chart from the WSJ:
- See more at: http://www.greenbuildermedia.com/blog/trends-toward-extremes-both-large-and-small-in-new-home-sizes-reflect-the-economic-realities-of-u.s.-buyers#sthash.J2iT0JPy.dpuf
