The get back to larger homes uses housing hanoi sizes bottomed call at 2009.
The NAHB says builders are meeting the demands in their customers, who have a lot higher credit worthiness plus a higher median income compared with 2007. The common new-home sale price rose to $318,000 in 2013 from $248,000 in '09.
These days, the typical new property is about 50% bigger than its 1973 counterpart, according to the Census Bureau, which began tracking this type of data from the mid-1970s.
As size has increased, so has the quantity of bedrooms. Of all the so-called new homes built, 48% had four or five bedrooms in 2013, in comparison with 34% last year. If the trend holds, it may bring another key transfer of the housing demographic: A few-bedroom home, which has been the type of the housing market since 1973, may be traded up for just a bigger size.
Additionally, 35% of new homes built in 2013 had at the very least three full bathrooms, up from 23% in 2010. Similarly, the share of homes with garages for three or maybe more cars rose to 22% in 2013 from 16% in 2010.
Based on a newly released NAHB study around the Characteristics of House for rent in Hanoi, first-time homebuyers purchase cheaper and smaller homes than trade-up buyers. First-time buyers, who usually represent 40% in the market, are already steadily eliminated in the market as credit rules have tightened and mortgage rates have raised, based on the NAHB report, that may also explain the rise in average home size.
From Vinahouselink
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