Formal Living Rooms, Mansions a Thing of the Past

A recent survey of 238 building industry professionals by the National Association of Home Builders reveals that the average size of newly built dwellings dropped to 2,377 square feet in 2010 from 2,520 square feet in 2007. Although the decline could be temporary and a result of the recession, experts suspect that home buyers want to reduce energy costs and that the average size will shrink to 2,150 square feet in 2015. With more buyers looking at homes as shelter rather than as long-term investments, Rose Quint of NAHB says they are assuming a “let’s buy what we need” approach. The survey also shows that 52 percent of respondents expect to build smaller dwellings this year, and 59 percent anticipate building more affordable houses. About 82 percent of those polled believe living rooms will be a thing of the past by 2015, with more homes having combined great room-kitchen areas. Also by 2015, 68 percent of respondents predict homes will have more eco-friendly components. Meanwhile, a December 2010 Better Homes and Gardens survey of 2,000 readers shows that they desire dwellings with a median size of 1,914 square feet, up from 1,864 square feet in 2009; but affordability is a top priority of 74 percent of those polled. | Read More