Have the mini-mansions and expansive properties of the past few decades been replaced with more efficient and compact homes? It is difficult to plan your move when your furniture doesn’t quite fit into your new home, so it’s important to know what to expect on the market. Read on to learn if homes really are shrinking and to find out what lies ahead for home sizes in 2013:
The Expanding American Home
In 1973, the average size of a new house was only 1,660 square feet. If you grew up in the 70s, your childhood home was probably smaller than the houses you saw being built in the late 80s, when the average house size expanded to around 2,000 square feet. Of course, that is nothing compared to the average house size of 2,521 square feet in 2007, when America’s average house size peaked.
The Damaging Economic Crisis
From 2007-2010, America experienced a housing crisis that led to a national economic predicament. The falling home prices largely contributed to a dramatic decline in the average net worth of the American family. Foreclosures were very common during this time, and many people lost their homes.
The Practical House Sizes of Today
While the economy is improving, Americans today continue to be more budget-conscious, and, when it comes to buying a home, prize function over size. As a result, house sizes have declined in the last five years while efficiency, sustainability, accessibility, and amount of outdoor space for homes have increased. While 2013 is likely to show more housing market growth, houses built today will likely continue to offer greater functionality in smaller packages.
At Men on the Move, we offer residents in homes of every size efficient and friendly moving services. If you are relocating from the New York City area, get in touch so we can help you make a smooth transition. For more information, call (718) 343-3424.