Are Big Homes Making A Come Back

Dated: 07/18/2013

Views: 1201

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.
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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....

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