For more than three decades, the size of newly constructed U.S. homes trended larger. Between 1973 and 2010, the average square footage for new home construction increased from 1,660 to 2,392 square feet.1 However, between 2015 and 2018, average square footage decreased from 2,689 to 2,557 square feet per unit.2 Though that doesn’t seem like a lot, the reversal of this trend is bound to change the metrics involved in the construction industry. To help keep you ahead of the curve, we’ve compiled some of the best ways to ensure that you can continue to make profits in this business environment while building the homes that people want to live in.
Home sizes are trending smaller as people realize that bigger is more expensive, both in the short and the long term. The fad of tiny homes, as houses and apartments that range from 150 to 400 square feet are called, is not for everyone. But that trend is affecting the larger housing conversation. Smaller homes are attractive to people because the heating and cooling costs will be lower, care and maintenance will be easier and people wish to have a lighter impact on the planet by using fewer resources.
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