Why More Builders Are Building Smaller Homes?
Shared by Real Estate Broker Li Li Hwang
As household composition shifts, builders look to the starter homes of yesteryear to deliver more practical, affordable single-family homes for today’s buyers.
Shared by Real Estate Broker Li Li Hwang
Key points:
- The median new single-family home has fallen from 2,320 square feet in 2015 to 2,036 square feet in 2023.
- Homes are expected to keep shrinking as demand for smaller houses grows.
- Owners of small homes can still live large, as some new communities focus on lush landscaping, community amenities and a vibrant environment for residents.
~ Above information provided by Real Estate News, published on November 29, 2024 ~
Bottom Line
As inflation keeps rising, so is the construction cost for houses. This is not a bad news for small families of two or three members, especially for those newlywed and first-time home byers. Small size homes are more affordable yet you can still enjoy a home of your own.
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