As average household incomes have declined so has the square footage of new homes according to a report done by Housing Intelligence Pro. In 2010 the average income of new home buyers was $67,000 and the average square footage of homes being purchased was just less than 2000 square feet. We also saw a large trend towards energy-efficient smaller homes.
The U.S. Census data shows that 2008 was the first year since 1973 that new home square footages kept increasing until 2008 when the average new homes square footage went from 2,230 to under 2000 square feet in 2010.
History has shown that as the economy gets better and household incomes start too increase so will the desire for larger homes, do you think this trend will continue, please let me know.