Big Demand for Small Homes
Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different.
Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is not projected to change as we continue into the beginning of the year.
“We expect this downsizing trend to continue in 2020, driven by a confluence of economic and demographic trends.”
Why are smaller homes trending now?
As noted in the article, there are a few main reasons for this demand:
- “Many of today’s younger, millennial home buyers have expressed a preference for denser, more urban homes that are more walkable to shared amenities.”
- “Today’s older homeowners are expressing a desire for smaller, less maintenance-heavy and more accessible (read: less stairs) homes as they age and move into newer homes.”
With these two demographic groups surging through the market, the demand for this type of home is rising. If you’re a homeowner with a smaller-scale house, now may be a great time to sell, as the demand for this end of the market is surely on the rise.
Bottom Line
The demand for smaller houses will continue to rise throughout 2020. Let’s get together to discuss what the housing inventory looks like in your neighborhood. It might be time for you to take advantage of this trend!
Economists Forecast Recovery to Begin in the Second Half of 2020
Economists Forecast Recovery to Begin in the Second Half of 2020With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin...
Buying or Selling a Home? You Need an Expert Kind of Guide
Buying or Selling a Home? You Need an Expert Kind of GuideIn a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn...
We Remember & Honor Those Who Gave All
We Remember & Honor Those Who Gave All We remember, today and always.
Interest Rates Hover Near Historic All-Time Lows
Interest Rates Hover Near Historic All-Time LowsSome HighlightsMortgage interest rates have dropped considerably this spring and are hovering at a historically low level.Locking in at a low rate today could save you thousands of dollars over the lifetime of your home...
Summer is the new Spring for Placing your home on the Market
Experts Predict Economic Recovery Should Begin in the Second Half of 2020
Experts Predict Economic Recovery Should Begin in the Second Half of the Year One of the biggest questions we all seem to be asking these days is: When are we going to start to see an economic recovery? As the country begins to slowly reopen, moving forward in...
6 Reasons Why Selling Your House on Your Own Is a Mistake
6 Reasons Why Selling Your House on Your Own Is a Mistake There are many benefits to working with a real estate professional when selling your house. During challenging times like the one we face today, it becomes even more important to have an expert help guide you...
Housing Market Positioned to Bring Back the Economy
Housing Market Positioned to Bring Back the EconomyAll eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing...
#1 Financial Benefit of Homeownership: Family Wealth
#1 Financial Benefit of Homeownership: Family WealthWhile growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a “forced savings plan.” When you pay rent, that money is lost...
Adapting Your Home As a Senior
Adapting Your Home Adapting with Age Most of us would prefer to age in our current home. But as health and aging issues make more areas of the home hard to access or pose a greater risk of injury, doing so can be difficult. We can begin to feel trapped and that...