{"id":3098,"date":"2017-04-06T00:00:00","date_gmt":"2017-04-06T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-trend-bigger-houses-smaller-lots\/"},"modified":"2017-04-06T00:00:00","modified_gmt":"2017-04-06T00:00:00","slug":"new-home-trend-bigger-houses-smaller-lots","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-trend-bigger-houses-smaller-lots\/","title":{"rendered":"New-Home Trend: Bigger Houses, Smaller Lots"},"content":{"rendered":"

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New homes are getting larger, but their lot sizes are getting smaller. The median size of a new home increased from 1,938 square feet in 1990 to 2,300 square feet in 2016, but lot sizes during this same period decreased from 8,250 square feet to 6,970 square feet. That amounts to about a 16 percent decrease.<\/p>\n

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Read more: Other Hot New-Home Trends to Watch<\/p>\n<\/blockquote>\n

However, the trend hasn’t been consistent: Between 2006 and 2011, home buyers were showing demand for larger homes and <\/em>larger lots. As home prices dropped during the housing<\/a> crisis, greater affordability gave buyers opportunities to seek larger outdoor spaces. Today’s pullback in lot sizes come as builders look to cut costs.<\/p>\n

“When home prices appreciate at a fast pace, the land value rises even faster, which, in turn, drives the cost of homes higher,” according to CoreLogic’s Insights blog. “In order to mitigate the high cost of the land value, home builders reduce the size of the lots to bring the cost of the new home down so they can price these homes at a reasonable level.”<\/p>\n

Indeed, the data shows that sizable price gains on large homes between 2014 and 2016 put pressure on builders in the cost of acquiring and developing land. More builders responded by building larger homes but on smaller lots.\u00a0<\/p>\n

Source: \u201cThe More, the Merrier,\u201d CoreLogic Insights Blog (April 5, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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New homes are getting larger, but their lot sizes are getting smaller. The median size of … New-Home Trend: Bigger Houses, Smaller Lots<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3099,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,127,617,489,344,258,41,818],"class_list":["post-3098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-homes","tag-house","tag-houses","tag-housing","tag-new-home","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/46v0HGGLhgE","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4650,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-homes-continue-downsizing-trend\/","url_meta":{"origin":3098,"position":0},"title":"New Homes Continue Downsizing Trend","author":"Amazing Property","date":"May 22, 2017","format":false,"excerpt":"[ad_1] In the first quarter of 2017, new single-family homes continued the trend of decreasing in size, the National Association of Home Builders reports on its Eye on Housing blog. Read more: Hot New-Home Trends to Watch Builders have largely focused on the higher end of the market following the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20survey.png?fit=717%2C546&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20survey.png?fit=717%2C546&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20survey.png?fit=717%2C546&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20survey.png?fit=717%2C546&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1737,"url":"https:\/\/amazingproperty.com.ng\/blog\/say-goodbye-to-this-suburbia-staple\/","url_meta":{"origin":3098,"position":1},"title":"Say Goodbye to This Suburbia Staple","author":"Amazing Property","date":"March 9, 2017","format":false,"excerpt":"The McMansion\u2014once the popular symbol of prosperity prior to the 2008 recession\u2014may be losing its favor with home buyers.\u00a0 Suburbs across America once boasted McMansions, \u201csprawling, mishmashed homes boasting several thousand square feet,\u201d Business Insider says. \u00a0 Read more: As McMansions Move In, Residents Grow Upset \"The pretty and prototypical\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6513,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-lot-sizes-shrink-to-new-low\/","url_meta":{"origin":3098,"position":2},"title":"Home Lot Sizes Shrink to New Low","author":"Amazing Property","date":"October 5, 2017","format":false,"excerpt":"Lot sizes on new single-family homes have reached a new record low. 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