Alexandria VA Homes for Sale – Average Sizes of Homes are Shrinking
You probably will not be surprised to hear that in 2009, on the average, new-home buyers purchased smaller Alexandria VA homes for sale.
To be exact, the National Association of Home Builders (NAHB) released information showing that the average size of a new home decreased by 40 square feet, from 2,520 square feet in 2008 to 2,480 square feet in 2009. While 40 square feet may not sound like a lot, it is significant because it’s been 27 years since the average home size fell by that much.
Are You Missing a Bathroom?
This decline in square footage is also noteworthy because 40 square feet is about the size of an average bathroom. Interestingly, NAHB’s statistics revealed that the number of homes with 3 or more bathrooms fell in 2009, for the first time since 1992.
What’s Fueling this Shrinkage?
There are 4 primary reasons the sizes of new Alexandria VA homes for sale are declining:
- The recession. People are reconsidering how much home they really need and are looking for ways to save money. Results of a 2009 survey by Better Homes and Gardens magazine, showed that downsizing is a bigger priority. Thirty-six percent of homeowners surveyed said they expected their next home to be “somewhat smaller” or “much smaller” than their current home.
- The small-house movement. This movement has been gaining steam in the United States for a number of years. The recession accelerated it and home builders responded by building smaller homes.
- The prominence of first-time buyers in the housing market. This is being stimulated by the $8,000 first-time homebuyer tax credit.
- The increasing number of households with members 55 and older who are buying homes. Folks over 55 prefer to purchase single-story homes, which tend to be smaller than two-story homes.
Considering one of the smaller Alexandria VA homes for sale?
If you’re thinking of downsizing, I can help. Call me now at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.
Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939
