Are Big Homes Making A Come Back

Dated: 07/18/2013

Views: 1199

According to the Census Bureau Report during our recent recession the average newly-built home was averaging 2,135 square feet, but are now slowly creeping up and in 2012 averaged 2,306 square feet.  
Steve Melman, NAHB’s director of economics services, attributes the growth in home size to the fact that many first-time buyers were blocked from the market due to strict credit requirements. “Most of the activity has been from the trade-up buyers who can buy larger more expensive homes,” Melman explained. “We’ll see what happens in 2013 if the credit market thaws officially and the first-time buyers come back in.” 
It appears that as sales improve and prices are rebounding, the demand for larger houses has also made a come-back.  Good news for the economy and housing sector.
Blog author image

Janis St. Onge

I am a certified Short Sale and Foreclosure Resource (SFR) who works with first time home-buyers, empty-nesters and investors. Call me today and let me be your eyes and ears in the Charleston tri-cou....

Latest Blog Posts

Charming Ranch Home in Wescott Plantation for Under $200K

4816 Hearthside Drive, Summerville, SC, 29485 3 Bed  •  2 Bath  •  1,355 sqft This Well-Kept & Charming 3BR/2.5BA Ranch is Located in Wescott Plantation of

Read More

Charming Ranch Home in North Charleston Back on the Market!

2652 Martha Drive, North Charleston, SC, 29405 3 Beds  •  2 Baths  •  1,069 SqFtYour Search for a Low Maintenance Lakehouse Escape just an hour outside of the

Read More

AMAZING VALUE on Stunning Lake View Home in Summerton, SC

1046 Island Court, Summerton, SC, 291484 Beds   •   3 Baths   •   1,400SqFt.$220,000Your Search for a Low Maintenance Lakehouse Escape just an hour

Read More

PRICE REDUCED! On Elegant End Unit Townhome in Wescott Plantation

       4761 Horse Drawn Way, Summerville, SC, 29485 3BR/2.5BA   •   1,875 SqFt.$210,000Welcome Home to this Low Maintenance Move-In

Read More