During the recession, the average new single-family home was 2,135 square feet. However, by 2013, the McMansion was back. Square footage grew to 2,598 square feet as more builders catered to luxury homebuyers. But some analysts question whether the millennial generation will reverse this trend – a generation that has already grown accustomed to more cramped corridors. After all, apartment sizes have been shrinking. In 2000, the average newly built apartment was about 1,003 square feet; but by 2010, the average shrunk to 976 square feet, according to Axiometrics, a research firm. Also, micro-apartments – which are as little as 250 square feet – are growing in popularity. Millennials, through housing surveys, have already shown a preference for walkable convenience with smaller living spaces, and many builders are starting to question how that will influence the design of future homes. Many renters are already willing to sacrifice space in order to be in a certain location or have more amenities outside the home.
Posted on: Thu, 11 Sep 2014 20:26:19 +0000
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