The average size of new homes is dropping. This is after a two-year period that saw size increase significantly. This is according to the National Association of Home Builders’ Eye on Housing.The COVID-19 pandemic changed how much time people spent in their homes and also how they used their homes. Homeowners discovered a need for more residential space as work-from-home became more prevalent. This caused a demand for larger space.Now, as housing affordability has become more important, that trend is reversing. Median single-family square floor area fell to 2,203 square feet during the fourth quarter of 2022, and is now the lowest it has been since 2011.
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Uncategorized • March 3, 2023
Small is the New Big
by Caleb Cheshier
Uncategorized 2.5 Per Household On average, up and down the Front Range, there are 2.5 people living in each household. This is an important number to know as you read the stories about census data and population growth. Obviously, as population grows, housing needs also grow. For every 100 people added to the population, there needs to be 40 […]
Uncategorized Months of Supply As measured by months of supply, we have a strong Seller’s market in Northern Colorado. Both Larimer County and Weld County measure at 1.6 months of supply. That means, at the current pace of sales, it would take only about 6 weeks to sell all of the existing homes for sale. The measurement becomes even […]
Uncategorized More New Nationally, new home inventory as a percentage of the total inventory just hit a record high. 26% of all properties currently available for sale are brand new homes. To put this in perspective, in 2018 it was 14%. From 2000 to 2008 it bounced between 10% and 15% Locally, we notice even higher numbers. In […]