Large Homes Selling, But Tiny Homes Attracting Attention

tiny home; Large Homes Selling, But Tiny Homes Attracting Attention - See more at: http://sourceable.net/large-homes-selling-tiny-homes-attracting-attention/#sthash.1TieZ5W4.dpuf

The average new home size has crept up as younger buyers are priced out of the market. Some of them are turning to tiny homes.

Large Homes Selling, But Tiny Homes Attracting Attention

The average size of a new home in the U.S. hit a new record in 2013, at 241 square metres. The previous record was about 232 square metres in 2008, just before the housing market imploded.

That might sound like good news, but it actually indicates a weak housing market, according to economist Robert Dietz of the National Association of Homebuilders.

“Higher-end homebuyers, particularly older homebuyers with cash reserves necessary to meet today’s down payment requirements, are in the new home market in greater proportions than first-time homebuyers who typically purchase smaller homes,” Dietz wrote in an opinion piece for U.S. News & World Report. “The result of this change in market mix is, at least in the data, rising average new home size on an average basis.”

Not coincidentally, in the decade from 2002 to 2012, home ownership fell most among people 35 and younger — 11 per cent, according to US Census data.

Read more here.

The Farmhouse Media is all about living sustainably through

  • green building

  • green cities

  • permaculture

What's on your mind?