SMALLER HOUSES ARE COMING BACK IN THE U.S. !

Smaller homes are once again becoming popular. In 1974 the average home in the U.S. was 1,560 square feet. In 2007 the average home was 2,248 square feet. For almost 30 years homes continued to get larger - but not anymore. Beginning the second quarter of 2007 new homes began getting SMALLER!

Why are homes getting smaller? There could be a number of reasons.

Baby Boomers are getting older, their kids have left or are leaving home, and they don't need or want the space.

• Many young home buyers are looking closer to downtown and are interested in catching the wave of excitement that is once again building in many of our urban areas.
• People are increasingly concerned with the increase in energy prices. Heating and air conditioning are beginning to play a roll in decision making.
• Family units are getting smaller. Between 1970 and 2000 married couples with children shrank from 40% to 24% of households.
• Young couples may be less interested in having children.

How are home sizes being reduced? Fewer homes have dining rooms, formal living rooms are disappearing, and unused space is becoming storage space. Built-ins are making a comeback from book cases to window seats and corner cabinets. Modern closet organizers that use every inch of space are a hot item!

Read the following links for more info:

Money Magazine, May 14th, 2008: The Incredible Shrinking House

The Wall Street Journal, September 13, 2007: Size of New Homes Shrink As Builders Battle Housing Slump

American Institute of Architects, First Quarter 2008: Home Sizes Shrink with Growing Concerns over the Economy and Energy Costs

Considering a smaller home? Is energy efficiency a concern for you? Ready to downsize? Contact Lee Hisey, Realtor and EcoBroker today at 440-315-6000. Lee is a partner in the Hisey Group, LLC a regional real estate team with Real Living Realty One. The Hisey Group serves Cleveland, Ohio's westside to the Lake Erie Islands - Ohio's North Coast.