According to a recent report by the U. S. Census Bureau, homes are now 7% smaller or, equivalent to an average size room smaller. The median square footage of new homes fell to 2,065 square feet in the first three months of this year.
Are we losing our love-affair with McMansions?
The numbers seem to be pointing in that direction in Massachusetts and the rest of the country. For the first time since 1994 the size of the average home has seen a decline.
In her book, "The Not So Big House" Sarah Susanka has stated, "A new ethic is arising right now that will become commonplace - as commonplace as is recycling today when just a few decades ago it was rarely if ever done."
"As more and more people build or remodel homes that satisfy in quality rather than quantity, there will be a huge shift in what we perceive as desirable."
Gopal Ahluwalia, vice president of research for the National Association of Home Builders, reports that nine out of ten builders surveyed by NAHB this year say they're building or planning smaller, lower-priced homes than in the past.
"We don't need big homes," he says. "Family size has been declining for the past 35 years."
Of course, this could simply be a symptom of the current recession.
It's difficult to know whether this is the result of a change in attitudes or a change in buyers, according to Kira McCarron, the chief marketing officer for Toll Brothers, a luxury home builder.
It could be a temporary halt to the number of young families who are buying homes in a market that is currently being dominated by an older buyer who wants a more controlled space and less maintenance.
It may turn out that when economy improves the demand for larger homes will come back in full force.
Only time will tell.
Copyright 2009 - Claudette Millette, President, The Buyers Counsel - 800-392-1446
Serving Home Buyers in: Ashland, Holliston, Hopkinton, Natick, Newton, Northborough, Framingham, Sherborn, Southborough, Sudbury, Wayland, Westborough
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