{"id":4650,"date":"2017-05-22T00:00:00","date_gmt":"2017-05-22T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-homes-continue-downsizing-trend\/"},"modified":"2017-05-22T00:00:00","modified_gmt":"2017-05-22T00:00:00","slug":"new-homes-continue-downsizing-trend","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-homes-continue-downsizing-trend\/","title":{"rendered":"New Homes Continue Downsizing Trend"},"content":{"rendered":"

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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<\/a> blog.<\/p>\n

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

Builders have largely focused on the higher end of the market following the recession, but that is showing some signs of changing.<\/p>\n

\u201cAs the entry-level market expands, including growth for townhomes, typical new home size is expected to decline,\u201d notes Robert Dietz, the NAHB\u2019s chief economist, on the blog. \"\"<\/p>\n

Median single-family square floor area moved slightly lower in the first quarter of 2017 to 2,389 square feet. The average square footage for new single-family homes fell to 2,628 square feet, according to the NAHB analysis and Census data. <\/strong><\/p>\n

Historically, following recessions, single-family home sizes do increase as high-end home buyers who tend to face fewer credit constraints are the first to return to the housing market in larger numbers.<\/p>\n

\u201cThe recent declines in size indicate that this part of the cycle has ended and size will trend lower as builders add more entry-level homes into the inventory,\u201d Dietz notes.<\/p>\n

Source: \u201cNew Single-Family Home Size Continues to Decline,\u201d National Association of Home Builders\u2019 Eye on Housing blog (May 17, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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 Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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