I found this article on Zillow.com and wanted to share it with you. Builders are leaning towards smaller homes as they plan for the future. Not surprising considering the economy…
If you had asked someone in the 1960s what the home of 2015 would look like, chances are they imagined something akin to The Jetsons’ home complete with Rosie the Robot and other space-age appliances that dressed and fed the family.
But, rather than space-age technology, the biggest thing that is expected to change in future single-family homes is the size.
“Homes will get smaller,” says Stephen Melman, Director of Economic Services at the National Association of Home Builders (NAHB) in Washington D.C. “We asked builders, ‘what do you anticipate the new home size would be by 2015?’ ”
According to the results of the study, surveyed home builders expect new single-family homes to check in at an average of 2,150 square feet. Current single family homes measure around 2,400 square feet, which is already a decrease from the peak home size in 2007 of 2,521.
While the decrease in home size has a lot to do with the recession, many believe that the real estate changes will stick around even after the economy and home values get back on solid ground.