{"id":11906,"date":"2017-07-20T11:15:58","date_gmt":"2017-07-20T11:15:58","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=11906"},"modified":"2017-07-20T11:15:59","modified_gmt":"2017-07-20T11:15:59","slug":"builders-warming-smaller-homes","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/builders-warming-smaller-homes\/","title":{"rendered":"Builders Warming Up to Smaller Homes"},"content":{"rendered":"

Builders Warming Up to Smaller Homes<\/h2>\n
\"Builders<\/a>

Builders Warming Up to Smaller Homes<\/p><\/div>\n

Competition is heating up among millennials and baby boomers for smaller, more affordable homes. But builders have been slow to meet demand. That may be showing signs of changing.<\/p>\n

Home sizes are beginning to shrink, which may also, in turn, help prices edge down some too.<\/p>\n

\u201cWe are starting to see [smaller] starter homes come back,\u201d says Rick Palacios Jr., director of research at John Burns Real Estate Consulting.<\/p>\n

The uptick started slightly in mid-2016 as employment and wages rose.<\/p>\n

More buyers are \u201cnow in that life stage of their early 30s [where] they\u2019ve got a good job now, they\u2019re getting married, they\u2019re having kids,\u201d Palacios says.<\/p>\n

Some builders are heading farther from cities, where land is cheaper. Or they may construct more homes on smaller lots or build a line of attached townhouses.<\/p>\n

\u201cA builder can\u2019t pay through the nose for land and then build a starter home on that land,\u201d Palacios says. \u201cIt just doesn\u2019t pencil out for them. [We\u2019ve] started to see more builders gaining confidence in building lower-priced, smaller homes.\u201d<\/p>\n

Nearly 29 percent of the homes built between 2010 and 2015 were 3,000 square feet or more\u2014hardly small by any standards. More builders focused on the high end of the market following the recession and built fewer smaller homes. Census data shows that 14.72 percent of new homes in the 1990s were between 1,000 and 1,499 square feet. Between 2010 to 2015, that percentage shrunk to 9.75 percent.<\/p>\n

Robert Dietz, chief economist at the National Association of Home Builders, projects about 850,000 new homes will be constructed this year, even though the market could really support about 1.2 million new homes.<\/p>\n

An uptick in smaller homes is \u201cnot something that can be fixed overnight,\u201d he notes. \u201cIt\u2019s going to take a while.\u201d<\/p>\n

Source: \u201cTiny Might Be Trendy, But Homebuilders Have Been Thinking Big \u2013 Until Now,\u201d realtor.com\u00ae (July 13, 2017)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Builders Warming Up to Smaller Homes Competition is heating up among millennials and baby boomers for smaller, more affordable homes. But builders have been slow to meet demand. That may be showing signs of changing. Home sizes are beginning to shrink, which may also, in turn, help prices edge down some too. \u201cWe are starting … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-11906","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBuilders Warming Up to Smaller Homes - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/builders-warming-smaller-homes\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Builders Warming Up to Smaller Homes\",\"datePublished\":\"2017-07-20T11:15:58+00:00\",\"dateModified\":\"2017-07-20T11:15:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/\"},\"wordCount\":333,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2017\\\/07\\\/07202017.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-warming-smaller-homes\\\/\",\"name\":\"Builders Warming Up to Smaller Homes - 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