By Erica Christoffer, Multimedia Web Producer, REALTOR® Magazine
Let’s start by looking at a few builder and consumer statistics presented during the International Builders’ Show in Orlando Thursday.
The average start size increased from 2,381 square feet to 2,522 square feet and the average sales price rose from $264,900 to $274,400 in 2011.
New homes have more amenities, too. More houses built in 2011 had four or more bedrooms, three or more bathrooms, three-car garages, finished basements, patios, and two stories.
…well-established, experienced home buyers who want it all and are finding good deals while getting it. “Builders build what the market demands. Many are realizing there is this niche out there,” Quint says.
What’s interesting is the number who said they plan to build bigger actually doubled from 2010, says Quint. Only 1 percent said they’d go bigger in 2009, 7 percent in 2010 and now 14 percent in 2011.
Read more at: http://realestateinsidernews.com/nar-2/small-home-trend-reverses-as-more-high-end-buyers-enter-the-market/
