The American Dream is Shrinking

According to the National Association of Home Builders, Hoboken and other home builders are going smaller with the size of new homes. The average size of a new home has been reduced and is expected to shrink more during the next few years. In 2015 the average home size is predicted to be approximately 2,150 square feet.

In 2010 the average home size was 2,377 square-foot based on a U.S. statistic. That’s significantly lower than the 2,500 square-foot average size in 2007. However, the current average home size in the U.S. is 50% larger that the average home size was in the 1970s.

Housing researchers have stated that the current downsizing of homes is due to the poor economy and a switch in consumer tastes.

One thing is for certain is that buyers will not downsize when it comes to storage space. and green features are continuing to grow in popularity. An amazing 80% of potential buyers put energy-efficient heating, air-conditioning and appliances at the top of their list of features in their new home.

For help with understanding the mortgage market, contact Eddie Perez Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive city, where they’re always coming up with new ways of making it a better place to live, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.

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Explore posts in the same categories: Hoboken Homes, Home Sales, Live in Hoboken

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